This past Thursday night, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words resonated for numerous observers. It is one of the broadcasters where one can locate reality-based and mostly dependable reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the bigger problem endures.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
