On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her message rang true to many. It stands as one of the outlets where there exists reality-based and largely trustworthy reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Battle
But CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of business acquisition, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
A Further Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be tools in the most recent merger game.
