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.
While CNN is certainly not a perfect news source, her statement rang true for numerous observers. It remains one of the organizations where there exists grounded and largely dependable reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain Position During a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will protect 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 unsolicited offer.
There is a basis to prefer that suitor 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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in too few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the newest merger game.
