On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement seemed accurate to many. It remains one of the outlets where there exists reality-based and largely reliable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable Position During a Corporate Battle
Yet CNN, now 45 years old, finds itself in a uncertain situation as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like 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.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the larger issue persists.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the most recent acquisition battle.
