This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message rang true to many. It stands as one of the broadcasters where there exists grounded and largely dependable reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Struggle
But CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis remains.
“The present media landscape is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
