Late Thursday, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her message rang true for numerous observers. It stands as one of the broadcasters where you can find reality-based and mostly reliable reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Battle
Yet the news network, now middle-aged, finds itself in a precarious position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of mergers and acquisitions, instead of 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 governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that company 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the underlying crisis remains.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be tools in the most recent merger game.
