On Thursday evening, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for a lot of people. It is one of the organizations where you can find reality-based and generally dependable reporting – especially during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Battle
However CNN, now four and a half decades old, finds itself in a precarious situation as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author 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 more important point.
“It is often framed as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard added.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is controlled 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Challenge and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis persists.
“What we have now is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest merger game.
