On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her words rang true to many. It remains one of the outlets where one can locate reality-based and largely reliable reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
But the news network, now 45 years old, finds itself in a uncertain situation as two massive media conglomerates 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 helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could position CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Challenge and a Way Ahead
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be tools in the newest acquisition battle.
