Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While it is by no means a perfect news source, her message rang true for numerous observers. It is one of the outlets where one can locate reality-based and largely reliable reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a vulnerable situation as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring 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 one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation 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 pawns in the newest merger game.
