On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It is one of the broadcasters where one can locate fact-based and generally dependable reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
A Further Factor: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the larger issue remains.
“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the latest acquisition battle.
