On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While the network is hardly a perfect news source, her statement resonated for a lot of people. It is one of the outlets where there exists reality-based and generally trustworthy reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a precarious situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard added.
A Further Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s views 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 administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to support 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 ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the latest acquisition battle.
