On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words seemed accurate to many. It is one of the broadcasters where there exists grounded and largely reliable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Additional Element: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor 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 ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Potential Solution
No matter the outcome regarding CNN, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the latest merger game.
