Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her statement resonated for a lot of people. It remains one of the broadcasters where you can find reality-based and largely trustworthy reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Business Battle
Yet the news network, now 45 years old, finds itself in a vulnerable position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, 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 profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about which company will control 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 powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s far from a secure position. That setup could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the larger issue remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in too few hands are within reach – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the latest merger game.
