This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true to many. It is one of the broadcasters where there exists grounded and generally trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
But CNN, now 45 years old, finds itself in a vulnerable situation as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“The present media landscape is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the newest merger game.
