This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins took to 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 statement rang true for numerous observers. It remains one of the outlets where there exists grounded and largely trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a precarious position as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with key players as the main characters, but there is very little discussion of the common good,” Pickard said.
The Additional Layer: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – dating back to 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 highly improbable now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest acquisition battle.
