On Thursday evening, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her message rang true for numerous observers. It stands as one of the outlets where there exists fact-based and largely trustworthy reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
But CNN, now 45 years old, finds itself in a vulnerable situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
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 chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Fundamental Problem and a Potential Solution
Regardless of the resolution in this situation, the larger issue remains.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the most recent merger game.
