Late Thursday, while unconfirmed reports spread about a shooting at Brown University, 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 perfect news source, her statement resonated for numerous observers. It stands as one of the outlets where one can locate grounded and generally reliable reporting – especially during crises such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State During a Corporate Struggle
Yet the news network, now 45 years old, finds itself in a uncertain position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of 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,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the newest corporate chess match.
