On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words rang true to many. It is one of the broadcasters where there exists reality-based and largely dependable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
An Uncertain State During a Corporate Struggle
However CNN, now four and a half decades old, finds itself in a vulnerable position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard explained.
A Further Factor: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run 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, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Potential Solution
Whatever happens regarding CNN, the bigger problem persists.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are within reach – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the newest acquisition battle.
