Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her message seemed accurate to many. It remains one of the organizations where one can locate grounded and largely dependable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
Yet the news network, now 45 years old, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a business story with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is led 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, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the latest merger game.
