This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her message rang true for a lot of people. It is one of the broadcasters where there exists fact-based and largely trustworthy reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Struggle
Yet CNN, now 45 years old, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis endures.
“What we have now is a highly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in very few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be tools in the most recent merger game.
