This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words rang true for numerous observers. It is one of the organizations where there exists grounded and largely dependable reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a precarious state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Element: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Issue and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“The present media landscape is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the most recent merger game.
