On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message resonated to many. It stands as one of the broadcasters where you can find grounded and largely dependable reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis endures.
“The present media landscape is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in very few hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the newest corporate chess match.
