This past Thursday night, as rumors swirled about 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.
Although the network is hardly a impeccable news source, her statement rang true to many. It remains one of the broadcasters where there exists reality-based and largely dependable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor 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.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Bigger Problem and a Path Forward
Whatever happens in this situation, the larger issue persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
