This past Thursday night, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true for numerous observers. It remains one of the broadcasters where there exists reality-based and generally trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Position During a Corporate Struggle
Yet CNN, now four and a half decades old, finds itself in a precarious situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder 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, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Problem and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
