Late Thursday, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her words resonated for numerous observers. It stands as one of the organizations where you can find reality-based and generally trustworthy reporting – notably during fast-moving events like the one developing close to a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Struggle
However CNN, now four and a half decades old, finds itself in a uncertain state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder 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.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Turmoil
Notably, if Netflix wins, 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 hardly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“What we have now is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be tools in the most recent merger game.
