On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her message seemed accurate for numerous observers. It is one of the organizations where you can find fact-based and generally reliable reporting – notably during breaking news situations like the one taking place near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a vulnerable position as two massive media conglomerates vie for 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 helps the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development 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. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the newest merger game.
