On Thursday evening, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her statement rang true for numerous observers. It remains one of the organizations where one can locate fact-based and largely trustworthy reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
However the news network, now 45 years old, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in very few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be pawns in the newest acquisition battle.
