On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement seemed accurate to many. It remains one of the outlets where you can find reality-based and generally dependable reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a precarious position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the common good,” Pickard added.
The Additional Element: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to favor 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.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could set up CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Potential Solution
Whatever happens with this particular battle, the larger issue remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new 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 should not imply it will never happen.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent corporate chess match.
