On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message rang true for numerous observers. It remains one of the broadcasters where one can locate grounded and largely trustworthy reporting – particularly during crises like the one taking place close to a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
But the news network, now 45 years old, finds itself in a vulnerable position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges 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 a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for another sale. It never ends.
According to Timothy Wu, a lot 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 detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Path Forward
Whatever happens in this situation, the bigger problem endures.
“The present media landscape is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Initiatives that bolster 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 vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest acquisition battle.
