This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated for a lot of people. It stands as one of the organizations where one can locate reality-based and largely trustworthy reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a corporate drama with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would 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 yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be tools in the latest merger game.
