On Thursday evening, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement seemed accurate for a lot of people. It remains one of the broadcasters where there exists fact-based and largely dependable reporting – especially during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
Whatever happens in this situation, the larger issue persists.
“The present media landscape is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the latest corporate chess match.
