This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message rang true for a lot of people. It remains one of the outlets where you can find grounded and generally trustworthy reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Battle
But CNN, now middle-aged, finds itself in a precarious situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of 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 governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out 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. There is no finish line.
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.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“The present media landscape is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed 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? Change is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be tools in the most recent corporate chess match.
