On Thursday evening, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate for a lot of people. It is one of the broadcasters where one can locate grounded and generally trustworthy reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a precarious position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Layer: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the cries 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 official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is part of why he seems 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 ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. 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 block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Problem and a Way Ahead
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the newest acquisition battle.
