Late Thursday, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her message resonated to many. It is one of the organizations where there exists grounded and generally dependable reporting – particularly during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
But the news network, now 45 years old, finds itself in a precarious position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be pawns in the most recent corporate chess match.
