Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her message seemed accurate to many. It remains one of the organizations where you can find fact-based and generally trustworthy reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
Yet 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.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with key players as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation 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. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is run 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Potential Solution
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Measures that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are achievable – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest merger game.
