On Thursday evening, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to 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 statement resonated to many. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a precarious state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor 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 more important point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate 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.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Uncertainty
It is important to note, 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 far from a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Bigger Challenge and a Path Forward
Whatever happens regarding CNN, the larger issue persists.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest corporate chess match.
