This past Thursday night, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her words resonated for numerous observers. It remains one of the organizations where one can locate grounded and generally dependable reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Situation During a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a precarious state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking 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 media policy professor at the Penn.
The conjecture 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 corporate drama with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
A Further Layer: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges 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 one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. 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 position CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu stated.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair 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, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the newest merger game.
