This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words seemed accurate for numerous observers. It remains one of the outlets where you can find fact-based and mostly dependable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a Business Battle
However CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of mergers and acquisitions, instead of 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 professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
The Additional Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company 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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the newest merger game.
