This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words resonated for a lot of people. It remains one of the organizations where one can locate reality-based and generally trustworthy reporting – notably during breaking news situations like the one taking place near a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
However CNN, now 45 years old, finds itself in a precarious state as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Measures that support 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 necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be pawns in the latest corporate chess match.
