This past Thursday night, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her words resonated for numerous observers. It stands as one of the organizations where there exists fact-based and generally reliable reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
But CNN, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of business acquisition, not as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that company 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Core Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue persists.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the latest merger game.
