This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement rang true to many. It is one of the organizations where one can locate reality-based and mostly reliable reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
Yet CNN, now 45 years old, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
A Further Factor: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer 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.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for yet another acquisition. There is no finish line.
If you ask 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.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Core Issue and a Path Forward
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the latest merger game.
