On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated for numerous observers. It stands as one of the broadcasters where you can find reality-based and mostly reliable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Battle
Yet the news network, now 45 years old, finds itself in a precarious position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Factor: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. 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 bidder more. For one thing, it is controlled 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, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Issue and a Potential Solution
No matter the outcome regarding CNN, the larger issue endures.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the newest merger game.
