On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a impeccable news source, her message seemed accurate to many. It is one of the organizations where you can find fact-based and largely dependable reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
But CNN, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Element: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Core Issue and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the newest corporate chess match.
