This past Thursday night, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true for a lot of people. It stands as one of the organizations where there exists fact-based and mostly reliable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.
A Precarious Position During a Corporate Struggle
However the news network, now four and a half decades old, finds itself in a uncertain state as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in very few 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 including CNN shouldn’t be tools in the most recent acquisition battle.
