This past Thursday night, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement seemed accurate to many. It remains one of the organizations where there exists fact-based and largely trustworthy reporting – particularly during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
Yet the news network, now 45 years old, finds itself in a precarious position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that company more. For one thing, it is controlled 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 lead editor of that historic news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the most recent merger game.
