This past Thursday night, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words resonated to many. It is one of the outlets where there exists fact-based and generally trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
But CNN, now four and a half decades old, finds itself in a uncertain state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is led 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, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, 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 hardly a safe harbor. That structure could position CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pawns in the latest merger game.
