This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her words resonated to many. It is one of the organizations where there exists reality-based and generally trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now 45 years old, finds itself in a vulnerable state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp 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 added.
The Complicating Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal 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 shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for a future sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the most recent acquisition battle.
