On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true to many. It is one of the outlets where there exists fact-based and generally dependable reporting – notably during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of business acquisition, rather than as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a corporate drama with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
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 one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the bigger problem persists.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the most recent merger game.
