Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and generally reliable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Struggle
However the news network, now middle-aged, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen 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 should not imply it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in too few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the newest merger game.
