Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her words rang true to many. It stands as one of the organizations where one can locate reality-based and largely dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Struggle
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is led 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Issue and a Potential Solution
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be tools in the newest acquisition battle.
