On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It remains one of the outlets where one can locate reality-based and mostly dependable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable State During a Corporate Battle
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes 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 origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Fundamental Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem endures.
“The present media landscape is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the newest acquisition battle.
