This past Thursday night, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement resonated for numerous observers. It is one of the outlets where one can locate reality-based and mostly trustworthy reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Tug-of-War
Yet the news network, now 45 years old, finds itself in a precarious situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a corporate drama with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard added.
A Further Element: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a great deal 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 harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the bigger problem endures.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized 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? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the newest acquisition battle.
