This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the organizations where you can find reality-based and largely trustworthy reporting – notably during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Corporate Struggle
But the news network, now middle-aged, finds itself in a precarious situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future 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.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a corporate drama with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
A Further Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for another sale. 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 anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Path Forward
No matter the outcome regarding CNN, the bigger problem persists.
“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
