Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate fact-based and generally trustworthy reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Precarious State During a Business Battle
But the news network, now middle-aged, finds itself in a vulnerable position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate 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 is yet another example of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the public interest,” Pickard added.
A Further Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Bigger Issue and a Path Forward
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the latest merger game.
