Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message rang true for numerous observers. It stands as one of the organizations where there exists fact-based and generally reliable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain situation as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a corporate drama with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for another sale. The cycle continues.
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 block both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the bigger problem remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest corporate chess match.
