On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words seemed accurate to many. It is one of the broadcasters where there exists grounded and mostly reliable reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
However the news network, now middle-aged, finds itself in a uncertain state as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
The Additional Layer: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for another sale. The cycle continues.
If you ask 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 block both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Issue and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Is this likely 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 never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the most recent acquisition battle.
