Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a impeccable news source, her message seemed accurate to many. It stands as one of the broadcasters where you can find reality-based and generally trustworthy reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard explained.
A Further Element: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu argued.
The Bigger Challenge and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem persists.
“The present media landscape is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest merger game.
