On Thursday evening, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated for numerous observers. It stands as one of the outlets where there exists fact-based and largely trustworthy reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the most recent acquisition battle.
