Late Thursday, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While CNN is certainly not a perfect news source, her message rang true for a lot of people. It is one of the broadcasters where there exists reality-based and largely trustworthy reporting – particularly during crises like the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
Yet the news network, now four and a half decades old, finds itself in a precarious state as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor 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, parent 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 Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the newest corporate chess match.
