This past Thursday night, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement rang true to many. It is one of the organizations where one can locate fact-based and largely dependable reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
An Uncertain State Amid a Corporate Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
A Further Element: Political Influence
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Whatever happens regarding CNN, the underlying crisis endures.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be tools in the most recent merger game.
