This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her statement rang true to many. It remains one of the broadcasters where one can locate fact-based and generally trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
But the news network, now middle-aged, finds itself in a precarious state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Issue and a Way Ahead
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is a distant prospect now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the newest corporate chess match.
