Late Thursday, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her message seemed accurate for numerous observers. It remains one of the outlets where you can find fact-based and generally dependable reporting – particularly during crises like the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Battle
But the news network, now four and a half decades old, finds itself in a uncertain state as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Factor: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run 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, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new 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 highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent acquisition battle.
