Late Thursday, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It remains one of the outlets where there exists reality-based and mostly reliable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is controlled 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Path Forward
Whatever happens in this situation, the bigger problem endures.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the most recent merger game.
