This past Thursday night, amid swirling speculation regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the outlets where you can find grounded and largely reliable reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Struggle
But the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “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 sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer 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, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Core Challenge and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem remains.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
