On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement seemed accurate to many. It remains one of the outlets where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
However the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard added.
The Additional Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
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 White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
According to 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.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are within reach – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent corporate chess match.
