This past Thursday night, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement resonated to many. It remains one of the outlets where you can find fact-based and generally reliable reporting – particularly during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
However CNN, now 45 years old, finds itself in a vulnerable position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu argued.
The Fundamental Problem and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in too few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the newest merger game.