Late Thursday, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for numerous observers. It remains one of the outlets where there exists fact-based and mostly dependable reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in 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? – misses a more important point.
“It gets presented as a business story with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
A Further Factor: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu argued.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“Our current system is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the newest merger game.
