This past Thursday night, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement resonated for numerous observers. It is one of the outlets where you can find reality-based and generally dependable reporting – particularly during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” stated 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 – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Complicating Layer: The Former President
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges 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 negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue endures.
“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in too few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the most recent acquisition battle.
