On Thursday evening, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message rang true for numerous observers. It stands as one of the organizations where there exists reality-based and largely dependable reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
But CNN, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not 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 regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued 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 welcome development to many at the network, but it’s not exactly a secure position. That setup could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest merger game.
