Late Thursday, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her message resonated to many. It is one of the organizations where there exists grounded and generally trustworthy reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now 45 years old, finds itself in a precarious state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Layer: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Challenge and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the newest corporate chess match.
