On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her message seemed accurate for numerous observers. It stands as one of the outlets where you can find grounded and generally dependable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
A Further Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company 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, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest merger game.
