On Thursday evening, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true to many. It is one of the broadcasters where you can find fact-based and largely trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Battle
Yet the news network, now 45 years old, finds itself in a uncertain situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump 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 venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the newest merger game.
