This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate reality-based and largely trustworthy reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis endures.
“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest acquisition battle.
