Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her message seemed accurate to many. It remains one of the organizations where you can find grounded and generally trustworthy reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Corporate Tug-of-War
Yet CNN, now middle-aged, finds itself in a vulnerable position as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Layer: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. 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 led 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 top editor of that storied news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Core Issue and a Way Ahead
No matter the outcome with this particular battle, the larger issue endures.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prohibit the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest merger game.
