Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for a lot of people. It remains one of the broadcasters where you can find fact-based and generally dependable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Battle
But CNN, now 45 years old, finds itself in a vulnerable situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws 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 speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard said.
The Complicating Layer: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a secure position. That setup could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis endures.
“Our current system is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.
