Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement rang true for numerous observers. It stands as one of the organizations where one can locate reality-based and largely reliable reporting – especially during fast-moving events like the one developing close to a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
However CNN, now 45 years old, finds itself in a uncertain state as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of business acquisition, 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 regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is hardly any discussion of the common good,” Pickard added.
The Complicating Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor 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.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Whatever happens with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the newest merger game.
