On Thursday evening, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words seemed accurate to many. It remains one of the broadcasters where one can locate grounded and largely reliable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with key players as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“What we have now is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in too few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be tools in the most recent acquisition battle.
