Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement resonated for a lot of people. It is one of the broadcasters where one can locate grounded and generally trustworthy reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Battle
However CNN, now 45 years old, finds itself in a precarious state as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly 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 lead editor of that venerable news network.
A Possibility of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Problem and a Potential Solution
No matter the outcome in this situation, the larger issue endures.
“What we have now is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest corporate chess match.
