On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It remains one of the organizations where you can find reality-based and largely dependable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Struggle
Yet the news network, now four and a half decades old, finds itself in a precarious position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Factor: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder 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.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
