This past Thursday night, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her message seemed accurate for numerous observers. It is one of the outlets where you can find fact-based and generally reliable reporting – especially during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a vulnerable position as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a secure position. That setup could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem persists.
“Our current system is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest merger game.
