This past Thursday night, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement resonated to many. It stands as one of the organizations where one can locate fact-based and largely trustworthy reporting – notably during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Position During a Corporate Struggle
But CNN, now four and a half decades old, finds itself in a uncertain position as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, much 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.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue endures.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.
