Late Thursday, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It is one of the organizations where you can find grounded and largely dependable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the central actors, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Element: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges 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 a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens regarding CNN, the larger issue persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the latest acquisition battle.
