Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement rang true for a lot of people. It remains one of the organizations where you can find reality-based and mostly dependable reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Battle
Yet the news network, now middle-aged, finds itself in a vulnerable state as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Layer: The Former President
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated 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 in this situation, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the latest merger game.
