This past Thursday night, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement rang true for a lot of people. It remains one of the organizations where there exists reality-based and mostly trustworthy reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a precarious position as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner 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 Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis persists.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the newest corporate chess match.
