Late Thursday, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words resonated for numerous observers. It remains one of the organizations where one can locate reality-based and largely dependable reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain State During a Business Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the common good,” Pickard said.
A Further Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
