On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her words rang true for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
The Complicating Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor 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, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu argued.
The Core Challenge and a Potential Solution
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 noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the latest corporate chess match.
