Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her statement rang true to many. It remains one of the outlets where one can locate fact-based and generally reliable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
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 one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new 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? Overhaul is highly improbable now, but that is not to say it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a healthy 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 merger game.
