Late Thursday, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true to many. It stands as one of the organizations where there exists reality-based and mostly dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain situation as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate 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 aggressive takeover attempt.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Instability
Significantly, if Netflix is successful, 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 structure could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue persists.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest corporate chess match.
