On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message rang true for numerous observers. It remains one of the outlets where there exists fact-based and largely dependable reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Struggle
But CNN, now four and a half decades old, finds itself in a vulnerable state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor 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, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Instability
Significantly, if Netflix is successful, 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 hardly a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the latest merger game.
