Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for numerous observers. It stands as one of the outlets where one can locate fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Struggle
But the news network, now middle-aged, finds itself in a precarious position as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation 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 part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could position 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 prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest merger game.
