This past Thursday night, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her message rang true for numerous observers. It is one of the broadcasters where you can find reality-based and generally trustworthy reporting – notably during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
Yet CNN, now middle-aged, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor 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.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the latest corporate chess match.
