On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message resonated for numerous observers. It remains one of the outlets where there exists grounded and largely trustworthy reporting – notably during crises like the one taking place near a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a uncertain state as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Element: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Further Turmoil
It is important to note, if Netflix prevails, 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 hardly a safe harbor. That setup could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis endures.
“What we have now is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest merger game.
