On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Struggle
Yet CNN, now middle-aged, finds itself in a vulnerable state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.
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 press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect 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.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Issue and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem remains.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest merger game.
