On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a flawless news source, her words resonated for numerous observers. It stands as one of the organizations where there exists grounded and largely trustworthy reporting – notably during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a uncertain position as two giant media empires battle over 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 news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu argued.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the larger issue endures.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest merger game.
