Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her words resonated to many. It stands as one of the organizations where there exists grounded and largely trustworthy reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Position During a Business Struggle
Yet CNN, now 45 years old, finds itself in a precarious position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs 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 support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst 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 contested by the government,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the most recent corporate chess match.
