On Thursday evening, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement seemed accurate to many. It is one of the outlets where you can find grounded and largely dependable reporting – particularly during fast-moving events like the one developing near a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
But the news network, now middle-aged, finds itself in a uncertain state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the cries 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 press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like 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, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are within reach – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the latest acquisition battle.
