On Thursday evening, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated to many. It is one of the broadcasters where there exists fact-based and mostly trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
Yet the news network, now 45 years old, finds itself in a uncertain state as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: 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” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix wins, 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 far from a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
Whatever happens in this situation, the bigger problem endures.
“What we have now is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that bolster 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 healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent merger game.
