This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message seemed accurate to many. It remains one of the organizations where there exists grounded and generally trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
Yet CNN, now 45 years old, finds itself in a vulnerable situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps 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 academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens regarding CNN, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives 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.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the latest acquisition battle.
