On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people 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 organizations where you can find reality-based and generally trustworthy reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest corporate chess match.
