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 network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where you can find grounded and mostly dependable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
Yet CNN, now 45 years old, finds itself in a uncertain situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that bidder 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of More Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for another sale. It never ends.
In the view of 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 competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue persists.
“The present media landscape is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent acquisition battle.
