On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true for a lot of people. It is one of the outlets where one can locate grounded and largely trustworthy reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Additional Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“What we have now is a highly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest merger game.
