Late Thursday, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
Yet CNN, now 45 years old, finds itself in a uncertain position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the common good,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says 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 favor 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 ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Problem and a Way Ahead
Whatever happens with this particular battle, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent merger game.
