On Thursday evening, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It remains one of the broadcasters where one can locate reality-based and largely dependable reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Battle
Yet the news network, now 45 years old, finds itself in a uncertain situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the common good,” Pickard said.
The Complicating Factor: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. 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 run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic 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 challenged by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the most recent corporate chess match.
