On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It remains one of the broadcasters where there exists reality-based and mostly reliable reporting – notably during crises like the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Element: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest corporate chess match.
