Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words seemed accurate for numerous observers. It stands as one of the organizations where there exists reality-based and mostly reliable reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious Position During a Corporate Battle
However the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that company 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 placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the larger issue remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest acquisition battle.
