Late Thursday, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement rang true for numerous observers. It is one of the outlets where you can find grounded and generally reliable reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Battle
However CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
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 press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Core Problem and a Path Forward
Whatever happens regarding CNN, the bigger problem remains.
“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in very few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the most recent corporate chess match.
