This past Thursday night, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her statement seemed accurate for a lot of people. It is one of the outlets where there exists fact-based and largely dependable reporting – especially during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious State During a Business Struggle
Yet the news network, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard said.
A Further Element: The Former President
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would 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 a future sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be tools in the newest acquisition battle.
