This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her message seemed accurate to many. It remains one of the broadcasters where there exists grounded and mostly dependable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.
An Uncertain Position During a Corporate Struggle
But the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Factor: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Path Forward
No matter the outcome in this situation, the larger issue endures.
“Our current system is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the latest merger game.
