On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement resonated to many. It is one of the outlets where there exists reality-based and mostly trustworthy reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“What we have now is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Measures that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
