Late Thursday, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins used 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 for a lot of people. It remains one of the organizations where you can find fact-based and mostly reliable reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
But CNN, now four and a half decades old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard explained.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could position CNN for yet another acquisition. It never ends.
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 detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Path Forward
No matter the outcome regarding CNN, the larger issue endures.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the newest acquisition battle.
