On Thursday evening, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words seemed accurate for numerous observers. It remains one of the broadcasters where there exists fact-based and generally trustworthy reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
But CNN, now middle-aged, finds itself in a uncertain position as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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 placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Way Ahead
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 a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
