Late Thursday, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true for a lot of people. It stands as one of the outlets where there exists reality-based and largely dependable reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
However CNN, now 45 years old, finds itself in a uncertain state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Challenge 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 the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest acquisition battle.
