This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true to many. It stands as one of the broadcasters where one can locate grounded and generally trustworthy reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
However CNN, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” noted 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 – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the shouts 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 press 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 a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that company 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
Whatever happens regarding CNN, the larger issue endures.
“Our current system is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the latest merger game.
