On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for numerous observers. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for 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 hostile bid.
There is a basis to like that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the bigger problem persists.
“What we have now is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent merger game.