This past Thursday night, as rumors swirled regarding 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 CNN is certainly not a perfect news source, her message rang true to many. It is one of the broadcasters where there exists grounded and generally reliable reporting – notably during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Battle
But CNN, now middle-aged, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect 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 favor that suitor 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Issue and a Potential Solution
No matter the outcome in this situation, the underlying crisis persists.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest merger game.
