This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message seemed accurate for numerous observers. It is one of the outlets where you can find grounded and largely reliable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Position Amid a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a vulnerable situation 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 major game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the latest merger game.
