On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her words rang true to many. It remains one of the organizations where there exists fact-based and generally trustworthy reporting – notably during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain State During a Business Battle
However the news network, now middle-aged, finds itself in a precarious state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with key players as the main characters, but there is scant discussion of the public interest,” Pickard said.
A Further Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the most recent corporate chess match.
