Late Thursday, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where you can find reality-based and largely trustworthy reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
However CNN, now middle-aged, finds itself in a uncertain position as two massive media empires 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 corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own 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 main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Issue and a Path Forward
No matter the outcome with this particular battle, the bigger problem remains.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few 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 tools in the newest merger game.
