Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a flawless news source, her message seemed accurate to many. It stands as one of the organizations where one can locate fact-based and mostly trustworthy reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
However CNN, now middle-aged, finds itself in a uncertain state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is run 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix prevails, 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 not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent merger game.
