This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate reality-based and generally trustworthy reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet the news network, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
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 seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. It never ends.
According to Timothy Wu, a great deal 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.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Challenge and a Potential Solution
Whatever happens regarding CNN, the larger issue endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the latest corporate chess match.
