On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement resonated for a lot of people. It remains one of the organizations where there exists grounded and generally dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard explained.
A Further Element: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is run 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, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest acquisition battle.
