On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words resonated to many. It is one of the outlets where there exists reality-based and largely trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a vulnerable situation as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy 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 gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent acquisition battle.
