On Thursday evening, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder 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.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known 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 is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Issue and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the newest corporate chess match.
