On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true for a lot of people. It stands as one of the broadcasters where there exists grounded and largely dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard said.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Bigger Challenge and a Path Forward
No matter the outcome regarding CNN, the underlying crisis remains.
“The present media landscape is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the latest merger game.
