This past Thursday night, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her message rang true to many. It stands as one of the broadcasters where you can find grounded and generally reliable reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious State During a Business Battle
But CNN, now four and a half decades old, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring 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 criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue endures.
“The present media landscape is a highly anti-democratic system, but we must resist 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 tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean 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 too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent merger game.
