This past Thursday night, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It remains one of the organizations where there exists grounded and largely trustworthy reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
Yet CNN, now middle-aged, finds itself in a precarious state as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Problem and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in too few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the most recent merger game.
