On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a impeccable news source, her statement rang true for numerous observers. It is one of the broadcasters where you can find reality-based and generally trustworthy reporting – especially during crises like the one taking place near a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
Yet CNN, now 45 years old, finds itself in a vulnerable position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized 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? Change is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.
