Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate fact-based and generally trustworthy reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
However CNN, now 45 years old, finds itself in a vulnerable situation as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with key players as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent merger game.
