On Thursday evening, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words seemed accurate to many. It is one of the broadcasters where one can locate fact-based and mostly reliable reporting – particularly during crises like the one unfolding close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
