On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her words seemed accurate for a lot of people. It remains one of the organizations where there exists grounded and generally dependable reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a uncertain state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is led 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Path Forward
Whatever happens regarding CNN, the larger issue persists.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
