Late Thursday, as rumors swirled regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement seemed accurate to many. It is one of the outlets where there exists fact-based and mostly reliable reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Struggle
But CNN, now 45 years old, finds itself in a precarious situation as two huge media corporations battle over 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, instead of as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome regarding CNN, the larger issue persists.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in too few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest acquisition battle.
