On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where you can find fact-based and largely trustworthy reporting – particularly during crises such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
But CNN, now middle-aged, finds itself in a precarious situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Turmoil
It is important to note, if Netflix wins, 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 not exactly a safe harbor. That arrangement could position CNN for another sale. 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 wrote recently that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Issue and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the latest acquisition battle.
