On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true for numerous observers. It is one of the broadcasters where you can find reality-based and generally dependable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a business story with key players as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the shouts 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 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 come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are essential 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.
