Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement resonated to many. It stands as one of the outlets where one can locate grounded and largely reliable reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Battle
But CNN, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Complicating Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot 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.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Core Issue and a Way Ahead
No matter the outcome regarding CNN, the bigger problem endures.
“Our current system is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
