On Thursday evening, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and mostly dependable reporting – especially during fast-moving events such as 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 uncertain state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard said.
A Further Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate 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 hostile bid.
He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That setup could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the larger issue remains.
“The present media landscape is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest acquisition battle.
