On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her message resonated for numerous observers. It remains one of the organizations where you can find reality-based and generally reliable reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of business acquisition, not as a question of what helps the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Complicating Element: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the latest merger game.
