On Thursday evening, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words seemed accurate for a lot of people. It stands as one of the organizations where one can locate grounded and mostly dependable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Battle
But CNN, now middle-aged, finds itself in a vulnerable position as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder more. For one thing, it is led 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Path Forward
Whatever happens with this particular battle, the bigger problem remains.
“The present media landscape is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the newest merger game.
