This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated to many. It remains one of the outlets where one can locate reality-based and largely reliable reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two giant media conglomerates vie 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, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
No matter the outcome in this situation, the underlying crisis remains.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pawns in the newest merger game.
