On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her message rang true for numerous observers. It is one of the broadcasters where there exists fact-based and mostly reliable reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Business Battle
However CNN, now four and a half decades old, finds itself in a uncertain position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Whatever happens in this situation, the bigger problem endures.
“What we have now is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent corporate chess match.
