Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the broadcasters where one can locate reality-based and mostly reliable reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious situation as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of 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 key players as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for another 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 recently argued that competition laws should block both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens regarding CNN, the larger issue persists.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the latest acquisition battle.
