This past Thursday night, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words rang true for numerous observers. It remains one of the broadcasters where one can locate fact-based and mostly dependable reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Core Issue and a Path Forward
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the latest corporate chess match.
