On Thursday evening, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message resonated for numerous observers. It is one of the broadcasters where one can locate reality-based and generally dependable reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard explained.
The Additional Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as 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.
He has grounds to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Challenge and a Way Ahead
Regardless of the resolution in this situation, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest corporate chess match.
