Late Thursday, amid swirling speculation about a shooting 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.
Although CNN is certainly not a flawless news source, her statement resonated for numerous observers. It remains one of the broadcasters where you can find fact-based and largely reliable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory 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 protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Issue and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the most recent merger game.
