On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While it is by no means a perfect news source, her words seemed accurate for a lot of people. It remains one of the organizations where you can find reality-based and mostly trustworthy reporting – especially during fast-moving events like the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Business Struggle
Yet the news network, now 45 years old, finds itself in a uncertain position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits 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 Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Problem and a Potential Solution
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
