This past Thursday night, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message rang true to many. It is one of the broadcasters where there exists reality-based and mostly dependable reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a precarious situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor 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 installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu argued.
The Bigger Issue and a Way Ahead
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be tools in the newest corporate chess match.
