Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While the network is hardly a perfect news source, her words seemed accurate for numerous observers. It remains one of the broadcasters where you can find reality-based and largely dependable reporting – especially during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
Yet CNN, now 45 years old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the common good,” Pickard explained.
The Additional Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a profoundly anti-democratic system, 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 different policy decisions can tackle 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 doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest merger game.
