Late Thursday, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her statement resonated for numerous observers. It stands as one of the outlets where there exists fact-based and largely dependable reporting – especially during crises like the one unfolding close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the most recent merger game.
