On Thursday evening, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message rang true for numerous observers. It is one of the broadcasters where you can find reality-based and mostly reliable reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.
A Further Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue endures.
“Our current system is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the most recent acquisition battle.
