Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her message seemed accurate for numerous observers. It is one of the organizations where there exists fact-based and generally dependable reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Position During a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall 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 official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest merger game.
