On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words resonated for a lot of people. It remains one of the outlets where you can find fact-based and mostly dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a business story with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that company 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for a future sale. The cycle continues.
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 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 bigger problem remains.
“What we have now is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pieces in the most recent corporate chess match.
