On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words resonated to many. It is one of the outlets where there exists fact-based and generally reliable reporting – notably during crises like the one taking place close to a New Hampshire storage facility.
A Vulnerable Position During a Business Battle
But CNN, now middle-aged, finds itself in a precarious position 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 high-stakes game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims 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 a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company 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 appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position 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 stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Way Ahead
Regardless of the resolution in this situation, the larger issue endures.
“The present media landscape is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the most recent acquisition battle.
