This past Thursday night, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message rang true for numerous observers. It is one of the organizations where there exists reality-based and generally dependable reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
A Further Layer: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary 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 seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, 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 opposed by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“What we have now is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the newest merger game.
