Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate grounded and generally dependable reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
However the news network, now 45 years old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control 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 key players as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Issue and a Potential Solution
No matter the outcome regarding CNN, the bigger problem persists.
“What we have now is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the most recent corporate chess match.
