Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her words rang true for numerous observers. It stands as one of the outlets where one can locate reality-based and largely reliable reporting – especially during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a precarious situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic 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 opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis persists.
“The present media landscape is a highly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the latest acquisition battle.