Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate to many. It stands as one of the organizations where there exists reality-based and generally reliable reporting – particularly during crises such as the one unfolding near a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a precarious situation as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the newest acquisition battle.
