This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message resonated to many. It remains one of the outlets where you can find fact-based and generally dependable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard said.
The Complicating Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company more. For one thing, it is led 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, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the larger issue endures.
“Our current system is a highly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the latest merger game.
