This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement seemed accurate to many. It remains one of the broadcasters where there exists reality-based and generally trustworthy reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary withdrawal 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 negative coverage and examination. That is one reason why he appears to support 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 Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Path Forward
Whatever happens in this situation, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in too few hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent acquisition battle.
