Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a flawless news source, her message seemed accurate to many. It remains one of the organizations where one can locate grounded and generally trustworthy reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
However the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media corporations battle over 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, rather than as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that suitor more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem endures.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest acquisition battle.
