Late Thursday, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her message rang true to many. It remains one of the broadcasters where one can locate reality-based and generally dependable reporting – especially during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Battle
However CNN, now four and a half decades old, finds itself in a precarious state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
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 sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder more. For one thing, it is controlled 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the newest corporate chess match.
