Late Thursday, while unconfirmed reports spread regarding 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 CNN is certainly not a impeccable news source, her statement rang true to many. It remains one of the broadcasters where you can find grounded and mostly dependable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
But the news network, now 45 years old, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is run 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens regarding CNN, 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 noted. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is a distant prospect now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent merger game.
