This past Thursday night, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her words seemed accurate for a lot of people. It remains one of the broadcasters where there exists fact-based and generally trustworthy reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a vulnerable situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension 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 shield him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
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.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That setup could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the newest merger game.
