On Thursday evening, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her words seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate grounded and mostly reliable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain state as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that company 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Turmoil
Significantly, if Netflix prevails, 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 far from a guarantee of stability. That setup could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Core Issue and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“Our current system is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be tools in the latest merger game.
