On Thursday evening, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate to many. It is one of the organizations where one can locate reality-based and mostly reliable reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades 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? – misses a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Element: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder 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.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Issue and a Potential Solution
Whatever happens in this situation, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest merger game.
