This past Thursday night, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement rang true to many. It is one of the organizations where you can find reality-based and generally trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
However CNN, now four and a half decades old, finds itself in a uncertain position as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Uncertainty
It is important to note, 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 far from a secure position. That setup could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic 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 anti-trust authorities,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens in this situation, 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 noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
