On Thursday evening, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words resonated to many. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media conglomerates battle over 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 corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor 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.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Issue and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis remains.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent merger game.
