On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While the network is hardly a flawless news source, her statement resonated for numerous observers. It is one of the outlets where one can locate grounded and largely reliable reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard explained.
A Further Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Core Issue and a Way Ahead
No matter the outcome in this situation, the underlying crisis persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Measures that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be tools in the latest merger game.
