This past Thursday night, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated for numerous observers. It is one of the outlets where there exists reality-based and generally dependable reporting – notably during crises like the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain state as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Layer: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder 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 placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Path Forward
No matter the outcome with this particular battle, the bigger problem remains.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new 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? Change is very unlikely now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the most recent merger game.
