On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate to many. It is one of the broadcasters where you can find fact-based and generally trustworthy reporting – particularly during crises such as the one developing near a New Hampshire storage facility.
An Uncertain State During a Business Struggle
But the news network, now middle-aged, finds itself in a uncertain state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could 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 common good,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Challenge and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be pawns in the most recent acquisition battle.
