This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her words seemed accurate for numerous observers. It remains one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
Yet the news network, now middle-aged, finds itself in a uncertain state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a major game of business acquisition, instead of as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Instability
Significantly, if Netflix wins, 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 arrangement could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the most recent merger game.
