This past Thursday night, 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.
Even though the network is hardly a impeccable news source, her message rang true to many. It is one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – particularly during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants 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 claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he seems to support 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.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
Whatever happens in this situation, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the newest acquisition battle.
