On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for numerous observers. It remains one of the organizations where there exists grounded and largely trustworthy reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
However the news network, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of business acquisition, rather than 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,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump'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 the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Core Problem and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent merger game.
