Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words resonated to many. It is one of the organizations where you can find fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Battle
Yet CNN, now four and a half decades old, finds itself in a uncertain position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Element: 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” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for a future sale. The cycle continues.
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.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu stated.
The Fundamental Challenge and a Way Ahead
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster 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 functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the newest merger game.
