This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While it is by no means a impeccable news source, her statement seemed accurate to many. It is one of the organizations where one can locate fact-based and largely reliable reporting – especially during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Business Tug-of-War
Yet CNN, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes 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 a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The prominent critic 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 contested by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis persists.
“Our current system is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the newest merger game.
