Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a perfect news source, her message resonated for numerous observers. It is one of the outlets where one can locate reality-based and largely dependable reporting – especially during crises like the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Issue and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest corporate chess match.
