On Thursday evening, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement rang true for numerous observers. It stands as one of the organizations where one can locate grounded and generally reliable reporting – notably during crises like the one taking place near a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
Yet CNN, now 45 years old, finds itself in a uncertain situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor 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, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Core Problem and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest corporate chess match.
