On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for numerous observers. It remains one of the outlets where you can find fact-based and mostly trustworthy reporting – particularly during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Issue and a Potential Solution
Whatever happens in this situation, the larger issue persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the latest merger game.
