Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words seemed accurate for a lot of people. It remains one of the broadcasters where there exists reality-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Corporate Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard said.
A Further Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer 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.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis persists.
“Our current system is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
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 essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
