On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated for a lot of people. It stands as one of the organizations where there exists grounded and generally trustworthy reporting – particularly during breaking news situations such as the one taking place close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Struggle
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk 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 decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
No matter the outcome regarding CNN, the larger issue remains.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the most recent corporate chess match.
