Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for numerous observers. It remains one of the outlets where you can find reality-based and generally dependable reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
However CNN, now 45 years old, finds itself in a uncertain state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger 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 Element: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. 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 company more. For one thing, it is controlled by David Ellison, son of the pro-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 storied news network.
A Possibility of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem remains.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the latest acquisition battle.
