This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her statement resonated for numerous observers. It is one of the outlets where there exists fact-based and generally dependable reporting – notably during fast-moving events like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
However CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue endures.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the latest merger game.
