On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message rang true for a lot of people. It is one of the organizations where one can locate fact-based and generally dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Complicating Factor: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the latest corporate chess match.
