This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true to many. It is one of the organizations where there exists fact-based and generally trustworthy reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.
The Core Challenge and a Potential Solution
Whatever happens with this particular battle, the bigger problem remains.
“Our current system is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be tools in the latest acquisition battle.
