Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true for a lot of people. It remains one of the organizations where there exists reality-based and largely reliable reporting – notably during crises such as the one unfolding near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
However CNN, now middle-aged, finds itself in a vulnerable state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor 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 Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner 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 More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. 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 influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.
The Core Issue and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem persists.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the most recent acquisition battle.
