On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true for numerous observers. It is one of the outlets where you can find reality-based and mostly reliable reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that company 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Issue and a Potential Solution
Whatever happens in this situation, the underlying crisis persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the latest merger game.
