Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement rang true for numerous observers. It is one of the broadcasters where one can locate grounded and generally dependable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Struggle
But CNN, now 45 years old, finds itself in a uncertain state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
The Additional Element: The Former President
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” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis remains.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.
Measures that support independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in too few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest merger game.
