This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her message resonated to many. It remains one of the broadcasters where there exists reality-based and mostly trustworthy reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Struggle
Yet CNN, now 45 years old, finds itself in a precarious position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the newest merger game.
