This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her statement resonated for numerous observers. It stands as one of the broadcasters where there exists fact-based and largely reliable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Battle
However CNN, now 45 years old, finds itself in a precarious situation as two massive media conglomerates compete for ownership of its parent company, 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 news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Additional Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that suitor more. For one thing, it is run 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 placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the latest acquisition battle.
