Late Thursday, amid swirling speculation regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words seemed accurate for numerous observers. It remains one of the broadcasters where one can locate fact-based and mostly dependable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a uncertain state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Way Ahead
No matter the outcome regarding CNN, the larger issue remains.
“Our current system is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.
