This past Thursday night, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate fact-based and largely dependable reporting – particularly during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
However the news network, now 45 years old, finds itself in a precarious state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a safe harbor. That structure could position CNN for yet another acquisition. It never ends.
In the view of 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 block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens in this situation, the bigger problem endures.
“Our current system is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest merger game.
