This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement resonated to many. It remains one of the broadcasters where there exists fact-based and generally dependable reporting – particularly during crises like the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable position as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Element: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to like 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
No matter the outcome regarding CNN, the bigger problem endures.
“The present media landscape is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pawns in the latest acquisition battle.
