Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words seemed accurate for a lot of people. It is one of the outlets where there exists fact-based and generally trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Struggle
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a major game of mergers and acquisitions, rather than 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 regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard added.
A Further Factor: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Challenge and a Path Forward
No matter the outcome with this particular battle, the larger issue remains.
“The present media landscape is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
