Late Thursday, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate fact-based and generally dependable reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Struggle
Yet CNN, now four and a half decades old, finds itself in a precarious state as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Element: The Former President
The network's predicament is further muddied 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 his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is led 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a very 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 build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the most recent corporate chess match.
