On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her words seemed accurate for a lot of people. It is one of the broadcasters where one can locate reality-based and generally dependable reporting – notably during crises such as the one developing near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a precarious position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Factor: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is led 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could set up 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 competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent merger game.
