This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement rang true for numerous observers. It remains one of the broadcasters where one can locate reality-based and generally dependable reporting – notably during crises like the one taking place near a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a precarious state as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control 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 powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts 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 seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic 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 Challenge and a Potential Solution
Whatever happens with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest merger game.
