Late Thursday, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It is one of the outlets where there exists fact-based and generally trustworthy reporting – especially during crises such as the one developing close to a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard added.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Problem and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the newest acquisition battle.
