Late Thursday, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated to many. It is one of the organizations where there exists fact-based and mostly dependable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious state as two giant media conglomerates battle over 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, rather than as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension 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. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Potential Solution
No matter the outcome in this situation, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent acquisition battle.
