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 directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message resonated for a lot of people. It is one of the broadcasters where one can locate grounded and largely dependable reporting – particularly during breaking news situations like the one unfolding near a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
However the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems 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 led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for a future sale. 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 wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu argued.
The Core Challenge and a Path Forward
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest acquisition battle.
