This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her message seemed accurate for a lot of people. It is one of the organizations where there exists reality-based and largely reliable reporting – particularly during fast-moving events like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a precarious position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of business acquisition, not as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for a future sale. There is no finish line.
According to 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 disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Path Forward
Whatever happens regarding CNN, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the most recent merger game.
