This past Thursday night, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It stands as one of the outlets where there exists reality-based and mostly dependable reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Battle
But the news network, now middle-aged, finds itself in a precarious position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard added.
A Further Layer: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is run 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Path Forward
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the latest merger game.
