This past Thursday night, while unconfirmed reports spread 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.
Even though it is by no means a impeccable news source, her words resonated for a lot of people. It is one of the outlets where one can locate fact-based and mostly dependable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a High-Stakes Battle
But CNN, now middle-aged, finds itself in a precarious position as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation 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 protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like that bidder more. For one thing, it is led 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, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the latest corporate chess match.
