Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement seemed accurate for a lot of people. It is one of the organizations where there exists fact-based and mostly reliable reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer 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.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Problem and a Potential Solution
Regardless of the resolution in this situation, the larger issue persists.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the most recent merger game.
