Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words seemed accurate for a lot of people. It is one of the outlets where one can locate reality-based and largely dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a High-Stakes Struggle
However the news network, now 45 years old, finds itself in a vulnerable state as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Core Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem persists.
“What we have now is a very anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent acquisition battle.
