On Thursday evening, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where you can find fact-based and generally reliable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a precarious state as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Layer: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out 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 setup could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem remains.
“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the newest merger game.
