This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
While it is by no means a impeccable news source, her message rang true for numerous observers. It is one of the outlets where one can locate fact-based and largely reliable reporting – especially during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate 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.
“This is yet another example of the deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Element: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Issue and a Way Ahead
Whatever happens with this particular battle, the underlying crisis endures.
“What we have now is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest merger game.
