Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While it is by no means a perfect news source, her words rang true for a lot of people. It remains one of the outlets where you can find grounded and generally reliable reporting – notably during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
However CNN, now 45 years old, finds itself in a precarious state as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is led 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, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the latest corporate chess match.
