This past Thursday night, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement resonated for a lot of people. It remains one of the outlets where there exists reality-based and generally reliable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
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 powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Challenge and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent merger game.
