On Thursday evening, as rumors swirled regarding 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 message resonated to many. It is one of the outlets where you can find grounded and generally reliable reporting – especially during crises like the one unfolding near a New Hampshire storage facility.
A Precarious State During a Business Battle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of 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 main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Element: Political Influence
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor more. For one thing, it is run 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the bigger problem remains.
“The present media landscape is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in very few hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the latest merger game.
