This past Thursday night, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement resonated to many. It is one of the organizations where there exists fact-based and generally reliable reporting – especially during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain position as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard added.
A Further Element: Political Influence
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Potential Solution
Whatever happens in this situation, the bigger problem remains.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the most recent corporate chess match.
