On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where you can find grounded and mostly reliable reporting – notably during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a precarious state as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Significantly, if Netflix wins, 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 far from a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Core Issue and a Way Ahead
Whatever happens regarding CNN, the larger issue endures.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the newest corporate chess match.
