Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her statement resonated for numerous observers. It is one of the outlets where you can find fact-based and mostly dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a precarious state as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in very few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent merger game.
