This past Thursday night, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words rang true for numerous observers. It stands as one of the outlets where one can locate fact-based and largely trustworthy reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Corporate Battle
However CNN, now middle-aged, finds itself in a uncertain state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard added.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
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 tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Potential Solution
Whatever happens with this particular battle, the bigger problem persists.
“What we have now is a profoundly structure that undermines democracy, 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 hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
