This past Thursday night, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated for numerous observers. It remains one of the organizations where you can find grounded and largely trustworthy reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the latest merger game.
