This past Thursday night, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement resonated for a lot of people. It stands as one of the broadcasters where one can locate reality-based and largely reliable reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious Situation During a Business Battle
Yet CNN, now 45 years old, finds itself in a vulnerable state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary 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. This can be interpreted as ownership that will protect 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 led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis remains.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the latest merger game.
