On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words seemed accurate for numerous observers. It is one of the outlets where one can locate fact-based and mostly reliable reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a precarious state as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. 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 a future sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Issue and a Path Forward
Whatever happens in this situation, the larger issue persists.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest corporate chess match.
