Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for numerous observers. It is one of the outlets where you can find fact-based and generally reliable reporting – particularly during crises like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Tug-of-War
Yet CNN, now middle-aged, finds itself in a vulnerable situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the latest merger game.
