This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words rang true for a lot of people. It is one of the outlets where there exists grounded and mostly dependable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However the news network, now four and a half decades old, finds itself in a uncertain state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
A Further Layer: The Former President
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest acquisition battle.
