On Thursday evening, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words resonated for numerous observers. It is one of the outlets where you can find reality-based and generally dependable reporting – especially during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the larger issue persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest corporate chess match.
