This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message seemed accurate for numerous observers. It is one of the broadcasters where there exists reality-based and mostly dependable reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Struggle
Yet CNN, now 45 years old, finds itself in a precarious situation as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the common good,” Pickard added.
The Complicating Element: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the newest merger game.
