On Thursday evening, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for a lot of people. It is one of the organizations where there exists reality-based and generally trustworthy reporting – particularly during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
