Late Thursday, as rumors swirled about an incident 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.
While it is by no means a flawless news source, her message rang true for numerous observers. It remains one of the outlets where one can locate grounded and mostly reliable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Tug-of-War
But the news network, now middle-aged, finds itself in a precarious position as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Layer: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump'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 protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor 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 editor-in-chief of that historic news network.
A Future of More Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the latest acquisition battle.
