🔗 Share this article

Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her words resonated for numerous observers. It remains one of the broadcasters where there exists fact-based and largely trustworthy reporting – notably during crises like the one unfolding close to a New Hampshire storage facility.

A Vulnerable Position During a High-Stakes Struggle

But CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.

“This represents another instance of the fundamental flaws with roots 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 speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp 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 common good,” Pickard said.

The Complicating Factor: Political Influence

The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.

Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of More Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for another sale. There is no finish line.

In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu stated.

The Bigger Challenge and a Way Ahead

Whatever happens with this particular battle, the bigger problem endures.

“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.

Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.

Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are achievable – they are necessary for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the newest corporate chess match.