On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words rang true for numerous observers. It is one of the broadcasters where one can locate grounded and largely dependable reporting – especially during fast-moving events like the one developing close to a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent 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.
A Possibility of Further Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Potential Solution
Whatever happens in this situation, the larger issue endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest merger game.
