Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her statement rang true for numerous observers. It remains one of the broadcasters where there exists fact-based and generally dependable reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a precarious position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard said.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the bigger problem remains.
“The present media landscape is a highly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the most recent acquisition battle.
