This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message rang true for a lot of people. It stands as one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – especially during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard added.
A Further Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason 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.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.