On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words rang true for numerous observers. It remains one of the broadcasters where you can find reality-based and mostly reliable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
But CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is controlled 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
Regardless of the resolution in this situation, the larger issue remains.
“The present media landscape is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the latest corporate chess match.
