Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her words resonated to many. It stands as one of the outlets where one can locate fact-based and generally dependable reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a uncertain situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
