Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her words seemed accurate for numerous observers. It stands as one of the organizations where you can find fact-based and mostly dependable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
A Vulnerable Position During a Corporate Struggle
However the news network, now 45 years old, finds itself in a precarious state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of business acquisition, not as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Layer: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could 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 yet another acquisition. There is no finish line.
In the view of 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 prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Measures that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in very few hands are not only possible – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the newest acquisition battle.
