On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated for a lot of people. It stands as one of the organizations where there exists reality-based and mostly reliable reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” stated 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? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
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.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Issue and a Way Ahead
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the most recent acquisition battle.
