On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true to many. It remains one of the broadcasters where there exists grounded and mostly trustworthy reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
A Further Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants 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 White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer 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.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix is successful, 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 hardly a guarantee of stability. That structure could set up CNN for a future sale. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in too few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the most recent corporate chess match.
