This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her message seemed accurate to many. It is one of the broadcasters where there exists grounded and largely dependable reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Struggle
Yet the news network, now middle-aged, finds itself in a precarious state as two huge media empires compete 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, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes 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 negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a secure position. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the newest merger game.
