Late Thursday, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her message resonated to many. It stands as one of the outlets where you can find fact-based and generally reliable reporting – notably during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious state as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
A Further Factor: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem endures.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. 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? Reform is very unlikely now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the most recent corporate chess match.
