This past Thursday night, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While the network is hardly a impeccable news source, her words rang true for numerous observers. It remains one of the outlets where one can locate reality-based and largely dependable reporting – particularly during fast-moving events like the one developing near a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the common good,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes 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 negative coverage and examination. 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 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest corporate chess match.
