Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on 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 resonated to many. It stands as one of the organizations where you can find grounded and largely reliable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Layer: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Issue and a Way Ahead
Regardless of the resolution in this situation, the bigger problem persists.
“The present media landscape is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest corporate chess match.
