Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While it is by no means a flawless news source, her message rang true to many. It remains one of the outlets where there exists reality-based and generally reliable reporting – especially during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Battle
However CNN, now 45 years old, finds itself in a vulnerable position as two giant 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 high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix prevails, 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 far from a safe harbor. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Issue and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis endures.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and prohibit the accumulation of media power in too few 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 pieces in the most recent acquisition battle.
