On Thursday evening, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate to many. It remains one of the organizations where there exists grounded and largely trustworthy reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a precarious state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company 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.
Paramount, 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 Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out 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 arrangement could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial 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 highly improbable now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
