On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate fact-based and mostly dependable reporting – especially during crises like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
Yet CNN, now four and a half decades old, finds itself in a precarious position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the most recent merger game.
