This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement seemed accurate to many. It remains one of the outlets where one can locate grounded and mostly trustworthy reporting – notably during crises like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a precarious situation as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Factor: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of 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 Trump-friendly 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 editor-in-chief of that venerable news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by the government,” Wu stated.
The Bigger Challenge and a Potential Solution
No matter the outcome in this situation, the underlying crisis endures.
“What we have now is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the newest merger game.
