On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated for numerous observers. It is one of the outlets where you can find fact-based and largely reliable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain State Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable state as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” said 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 – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.
A Further Element: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims 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 hostile bid.
Trump has reason to like that suitor 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, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the latest acquisition battle.
