This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While it is by no means a impeccable news source, her statement rang true to many. It remains one of the outlets where one can locate reality-based and generally reliable reporting – notably during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a Corporate Struggle
However the news network, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is controlled 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Issue and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis persists.
“What we have now is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, aid local journalism, finance public media, and prohibit the concentration of media power in very few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the most recent merger game.
