On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated for a lot of people. It is one of the broadcasters where you can find fact-based and mostly reliable reporting – especially during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that company more. For one thing, it is led 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 placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
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 recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem persists.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the newest acquisition battle.
