Late Thursday, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message rang true for numerous observers. It remains one of the organizations where you can find reality-based and mostly trustworthy reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
But CNN, now 45 years old, finds itself in a vulnerable position as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a major game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s 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. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue endures.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the newest acquisition battle.
