On Thursday evening, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her words seemed accurate to many. It stands as one of the broadcasters where one can locate reality-based and largely trustworthy reporting – especially during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Position Amid a Business Struggle
But CNN, now 45 years old, finds itself in a uncertain situation as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws 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 conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Layer: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is controlled 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 top editor of that venerable news network.
A Possibility of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst 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 opposed by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen 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 is not to say it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
