Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While the network is hardly a flawless news source, her message resonated for numerous observers. It remains one of the organizations where there exists fact-based and generally trustworthy reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
But the news network, now 45 years old, finds itself in a precarious situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of business acquisition, not as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a secure position. That structure could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Challenge and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely 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 should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the newest merger game.
