This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a flawless news source, her message rang true for numerous observers. It is one of the organizations where there exists grounded and generally reliable reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Struggle
However the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Element: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to support 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.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the bigger problem remains.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
