This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement seemed accurate for a lot of people. It is one of the organizations where there exists grounded and generally trustworthy reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Battle
However the news network, now 45 years old, finds itself in a vulnerable situation as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that company more. For one thing, it is led 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, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised 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 highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be tools in the newest acquisition battle.
