On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for numerous observers. It stands as one of the outlets where one can locate grounded and largely dependable reporting – especially during crises such as the one unfolding near a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a precarious state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Issue and a Potential Solution
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a very anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the latest merger game.
