On Thursday evening, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her message rang true to many. It stands as one of the outlets where you can find grounded and largely dependable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a vulnerable situation as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” noted 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? – fails to grasp a more important point.
“It is often framed as a business story with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is led 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“The present media landscape is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in too few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
