Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for a lot of people. It is one of the broadcasters where there exists fact-based and generally dependable reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Element: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that company more. For one thing, it is led 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Way Ahead
Whatever happens with this particular battle, the underlying crisis remains.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised 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? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the latest acquisition battle.
