Late Thursday, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words resonated for numerous observers. It is one of the organizations where one can locate grounded and generally dependable reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a uncertain position as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a corporate drama with influential figures as the central actors, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Further Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
No matter the outcome in this situation, the underlying crisis persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the newest corporate chess match.
