Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her message resonated for numerous observers. It stands as one of the organizations where you can find fact-based and largely dependable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a vulnerable state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, not as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.
Measures that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the latest acquisition battle.
