On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true to many. It stands as one of the organizations where there exists reality-based and generally dependable reporting – notably during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
But the news network, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
The Complicating Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent 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 Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the most recent acquisition battle.
