On Thursday evening, as rumors swirled 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.
Even though the network is hardly a perfect news source, her statement rang true for a lot of people. It remains one of the outlets where one can locate reality-based and mostly trustworthy reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious situation as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Factor: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
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 part of why he appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue remains.
“The present media landscape is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the latest acquisition battle.
