On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While it is by no means a impeccable news source, her message resonated for a lot of people. It is one of the organizations where there exists grounded and generally dependable reporting – especially during crises like the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Business Battle
But CNN, now middle-aged, finds itself in a uncertain state as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation 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 shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the underlying crisis endures.
“What we have now is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the latest merger game.
