This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It remains one of the broadcasters where one can locate grounded and generally dependable reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the main characters, but there is very little discussion of the common good,” Pickard explained.
A Further Layer: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company 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, owner 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.
A Future of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem persists.
“What we have now is a very 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 overly commercial 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 highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the newest merger game.
