This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true to many. It remains one of the outlets where one can locate grounded and largely dependable reporting – especially during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
But CNN, now middle-aged, finds itself in a vulnerable position as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
The Complicating Element: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the shouts 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 says that the network requires new ownership. Many see this as a desire for ownership that will protect 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 like that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“The present media landscape is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be tools in the most recent corporate chess match.
