On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true for a lot of people. It is one of the broadcasters where there exists grounded and mostly dependable reporting – notably during crises such as the one developing near a New Hampshire storage facility.
A Vulnerable State During a Business Battle
But CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate 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.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard said.
The Complicating Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is led 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the most recent merger game.
