Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement resonated for a lot of people. It stands as one of the broadcasters where there exists reality-based and generally trustworthy reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable situation as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Core Problem and a Path Forward
Regardless of the resolution regarding CNN, the larger issue persists.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in too few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the most recent corporate chess match.
