On Thursday evening, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her words seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and generally trustworthy reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Business Battle
Yet the news network, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Element: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the underlying crisis endures.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest merger game.
