Late Thursday, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words rang true for numerous observers. It remains one of the organizations where one can locate grounded and generally trustworthy reporting – notably during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates vie for 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, instead of as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask 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 disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Core Problem and a Path Forward
Whatever happens with this particular battle, the larger issue persists.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in too few hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest corporate chess match.
