Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, 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 flawless news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate fact-based and generally reliable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
However the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Core Problem and a Path Forward
Whatever happens with this particular battle, the larger issue endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent merger game.
