On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words rang true for numerous observers. It stands as one of the broadcasters where one can locate grounded and mostly reliable reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
But the news network, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company 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 installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Challenge and a Way Ahead
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest merger game.
