On Thursday evening, as rumors swirled regarding 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 channel's 9pm newscast.
Although it is by no means a flawless news source, her words seemed accurate for numerous observers. It stands as one of the outlets where you can find reality-based and largely dependable reporting – especially during fast-moving events like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation During a Business Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for a future sale. There is no finish line.
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.
“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.
The Bigger Issue and a Way Ahead
Whatever happens in this situation, the larger issue remains.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
