This past Thursday night, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her message rang true for numerous observers. It remains one of the organizations where there exists grounded and mostly dependable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Struggle
But the news network, now 45 years old, finds itself in a precarious situation as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs 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 come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason 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.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Issue and a Way Ahead
Whatever happens with this particular battle, the underlying crisis persists.
“The present media landscape is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the latest merger game.
