This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement resonated to many. It stands as one of the outlets where one can locate reality-based and largely dependable reporting – especially during crises such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Struggle
However CNN, now 45 years old, finds itself in a vulnerable position as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard said.
A Further Layer: Donald Trump
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” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Problem and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis endures.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent merger game.
