This past Thursday night, while unconfirmed reports spread concerning an incident 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.
Although it is by no means a flawless news source, her message seemed accurate for a lot of people. It stands as one of the organizations where you can find fact-based and largely trustworthy reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
But the news network, now middle-aged, finds itself in a uncertain situation as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard said.
A Further Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor 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, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Measures that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent merger game.
