Late Thursday, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true to many. It remains one of the outlets where one can locate grounded and generally dependable reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is controlled 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest merger game.
