On Thursday evening, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words rang true for numerous observers. It stands as one of the broadcasters where there exists fact-based and largely trustworthy reporting – particularly during crises like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Struggle
Yet the news network, now 45 years old, finds itself in a uncertain position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with key players as the central actors, but there is very little discussion of the common good,” Pickard explained.
A Further Element: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in a handful of hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the latest merger game.
