On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated for a lot of people. It remains one of the organizations where one can locate reality-based and mostly trustworthy reporting – particularly during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Business Battle
However the news network, now middle-aged, finds itself in a precarious position as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Layer: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Problem and a Path Forward
Whatever happens with this particular battle, the larger issue persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be tools in the latest corporate chess match.
