Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words rang true for numerous observers. It stands as one of the outlets where there exists fact-based and largely dependable reporting – particularly during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his 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. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Turmoil
It is important to note, 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 safe harbor. That setup could set up CNN for another sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
Regardless of the resolution in this situation, the bigger problem endures.
“What we have now is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the newest acquisition battle.
