Late Thursday, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message rang true for numerous observers. It is one of the outlets where one can locate reality-based and largely trustworthy reporting – especially during fast-moving events like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is led 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Problem and a Potential Solution
No matter the outcome regarding CNN, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest corporate chess match.