This past Thursday night, amid swirling speculation about the Brown University gunman, 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 impeccable news source, her words resonated to many. It stands as one of the organizations where one can locate reality-based and mostly reliable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
Yet the news network, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Issue and a Path Forward
Whatever happens with this particular battle, the bigger problem remains.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the newest acquisition battle.
