On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her message resonated for numerous observers. It remains one of the broadcasters where there exists reality-based and generally dependable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State During a Business Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
Regardless of the resolution in this situation, the larger issue remains.
“The present media landscape is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pieces in the newest merger game.
