Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her message resonated for a lot of people. It is one of the organizations where one can locate grounded and generally trustworthy reporting – notably during crises like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
But CNN, now middle-aged, finds itself in a vulnerable state as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what helps the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard explained.
The Additional Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that bidder 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 lead editor of that historic news network.
A Future of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue endures.
“Our current system is a very system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely 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.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are achievable – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the latest merger game.
