Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the broadcasters where there exists reality-based and largely trustworthy reporting – especially during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of 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 central actors, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company 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 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 Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Way Ahead
Regardless of the resolution in this situation, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
