This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement rang true to many. It stands as one of the outlets where you can find fact-based and largely trustworthy reporting – particularly during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a precarious state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted 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? – fails to grasp a more important point.
“It is often framed as a financial tale with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Layer: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “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 tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome with this particular battle, the bigger problem persists.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest corporate chess match.
