Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate reality-based and generally reliable reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
Yet CNN, now four and a half decades old, finds itself in a precarious state as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with influential figures as the central actors, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be tools in the latest acquisition battle.
