Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message rang true to many. It remains one of the broadcasters where you can find fact-based and largely reliable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
Yet CNN, now middle-aged, finds itself in a uncertain state as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN must not be tools in the latest merger game.
