This past Thursday night, as rumors swirled concerning an incident 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 CNN is certainly not a impeccable news source, her statement resonated to many. It remains one of the broadcasters where you can find grounded and mostly dependable reporting – especially during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Business Struggle
However the news network, now middle-aged, finds itself in a uncertain position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a business story with key players as the central actors, but there is very little discussion of the common good,” Pickard explained.
A Further Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
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 sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated 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 another sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, 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 opposed by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in very few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the newest acquisition battle.
