This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her statement resonated for a lot of people. It stands as one of the organizations where there exists reality-based and generally trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a uncertain position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Uncertainty
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 setup could position CNN for another sale. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Core Issue and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis endures.
“The present media landscape is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent merger game.
