🔗 Share this article

On Thursday evening, while unconfirmed reports spread about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.

Although CNN is certainly not a impeccable news source, her message seemed accurate to many. It stands as one of the organizations where there exists fact-based and generally reliable reporting – notably during fast-moving events like the one unfolding close to a New Hampshire storage facility.

A Vulnerable Position Amid a Corporate Struggle

But CNN, now middle-aged, finds itself in a precarious state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has turned into a high-stakes 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 origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The speculation about which company will control 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 protagonists, but there is scant discussion of the societal benefit,” Pickard said.

The Complicating Layer: Political Influence

The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.

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 claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

There is a basis to favor that bidder more. For one thing, it is led 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Possibility of Continued Instability

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could set up CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.

The Fundamental Problem and a Path Forward

Whatever happens with this particular battle, the larger issue persists.

“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.

Policies that support independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are achievable – they are vital for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest acquisition battle.