This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement rang true for a lot of people. It is one of the outlets where one can locate grounded and mostly reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
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 tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that suitor more. For one thing, it is controlled 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, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for another sale. It never ends.
According to 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 prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens in this situation, the underlying crisis persists.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the latest corporate chess match.