This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where you can find fact-based and mostly dependable reporting – notably during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a uncertain state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with key players as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
A Further Layer: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the shouts 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 says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is controlled 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Turmoil
Significantly, if Netflix is successful, 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 hardly a safe harbor. That setup could pave the way for CNN for a future sale. The cycle continues.
According to 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 prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu argued.
The Bigger Issue and a Potential Solution
Regardless of the resolution with this particular battle, the larger issue endures.
“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the latest merger game.
