On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her statement resonated to many. It remains one of the outlets where you can find grounded and generally reliable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned 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 deep structural problems with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is run by David Ellison, son of the Trump-friendly 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 top editor of that venerable news network.
A Future of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the larger issue persists.
“The present media landscape is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the latest corporate chess match.
