Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her message rang true for numerous observers. It stands as one of the organizations where one can locate fact-based and generally trustworthy reporting – especially during crises like the one taking place near a New Hampshire storage facility.
A Vulnerable Position During a Corporate Battle
But CNN, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is hardly any discussion of the common good,” Pickard said.
A Further Factor: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Problem and a Potential Solution
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest corporate chess match.
