This past Thursday night, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her statement seemed accurate for a lot of people. It stands as one of the outlets where you can find reality-based and generally dependable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
However the news network, now 45 years old, finds itself in a uncertain state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Element: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that company more. For one thing, it is run 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for a future sale. The cycle continues.
If you ask 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 prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens in this situation, 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 noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the newest merger game.
