On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message seemed accurate for numerous observers. It remains one of the outlets where one can locate reality-based and largely reliable reporting – especially during fast-moving events like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
But CNN, now middle-aged, finds itself in a precarious state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a business story with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis persists.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be tools in the most recent merger game.
