On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It remains one of the organizations where you can find fact-based and largely dependable reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
Yet 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.
Whatever the outcome, the fate of CNN has become part of 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 fundamental flaws with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the underlying crisis endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the latest merger game.
