On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement seemed accurate to many. It stands as one of the outlets where one can locate reality-based and mostly dependable reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But CNN, now 45 years old, finds itself in a vulnerable position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
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 sparring 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 protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could 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 yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Potential Solution
Whatever happens regarding CNN, the larger issue endures.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
