This past Thursday night, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement resonated for numerous observers. It is one of the organizations where there exists reality-based and generally reliable reporting – particularly during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Tug-of-War
Yet CNN, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard said.
The Complicating Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation 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 insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that company more. For one thing, it is led 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the newest merger game.
