On Thursday evening, amid swirling speculation regarding 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 the network is hardly a flawless news source, her words resonated to many. It remains one of the broadcasters where there exists grounded and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain State Amid a Corporate Battle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, rather than as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal 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 detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the most recent corporate chess match.
