Late Thursday, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement rang true for numerous observers. It is one of the outlets where you can find fact-based and mostly dependable reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
But CNN, now four and a half decades old, finds itself in a precarious situation as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder more. For one thing, it is led 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s far from a safe harbor. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the newest acquisition battle.
