This past Thursday night, while unconfirmed reports spread 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 seemed accurate for numerous observers. It remains one of the organizations where there exists reality-based and mostly reliable reporting – particularly during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a uncertain position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder 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.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might 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 another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Challenge and a Potential Solution
No matter the outcome in this situation, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.
