On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words rang true for a lot of people. It stands as one of the broadcasters where there exists grounded and generally reliable reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is led 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.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Core Challenge and a Path Forward
Regardless of the resolution in this situation, the larger issue remains.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in too few hands are within reach – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the newest acquisition battle.
