This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message resonated to many. It is one of the broadcasters where you can find fact-based and largely reliable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Tug-of-War
However the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, 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.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is scant discussion of the common good,” Pickard said.
The Additional Layer: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That structure could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal 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 bad for the country, and both should be challenged by regulators,” Wu stated.
The Core Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“The present media landscape is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest corporate chess match.
