This past Thursday night, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for a lot of people. It is one of the outlets where one can locate reality-based and generally dependable reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
But the news network, now 45 years old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: The Former President
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Path Forward
Regardless of the resolution with this particular battle, the larger issue persists.
“What we have now is a highly 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 different policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest acquisition battle.
