On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement resonated for a lot of people. It remains one of the outlets where there exists grounded and largely reliable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in too few hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be tools in the latest acquisition battle.
