Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement rang true to many. It remains one of the outlets where you can find grounded and largely dependable reporting – notably during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Layer: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Challenge and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pawns in the newest corporate chess match.
