On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It is one of the organizations where one can locate reality-based and generally dependable reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
But the news network, now four and a half decades old, finds itself in a precarious position as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Additional Layer: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“What we have now is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed 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 very unlikely now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the newest merger game.
