Late Thursday, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her words seemed accurate to many. It is one of the broadcasters where one can locate fact-based and generally trustworthy reporting – especially during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Battle
But the news network, now 45 years old, finds itself in a precarious position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, instead of as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.
The Core Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to 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 top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest merger game.
