On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement rang true for numerous observers. It is one of the organizations where one can locate reality-based and generally trustworthy reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Struggle
However CNN, now four and a half decades old, finds itself in a uncertain situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of mergers and acquisitions, not 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,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Instability
Notably, if Netflix wins, 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 far from a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Challenge and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest merger game.
