On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement rang true for a lot of people. It stands as one of the outlets where there exists fact-based and largely dependable reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
But CNN, now middle-aged, finds itself in a precarious position as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a business story with powerful individuals as the protagonists, but there is scant discussion of the common good,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That structure could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens with this particular battle, the underlying crisis persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the newest corporate chess match.
