On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While the network is hardly a perfect news source, her words seemed accurate for a lot of people. It stands as one of the outlets where one can locate grounded and largely dependable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
However the news network, now 45 years old, finds itself in a precarious situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Core Problem and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Measures that support independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
