This past Thursday night, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for a lot of people. It stands as one of the broadcasters where one can locate grounded and mostly reliable reporting – especially during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a uncertain situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of corporate ownership, not as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard explained.
The Additional Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary 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. Many see this as a desire for 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 like that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome in this situation, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the latest merger game.
