Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her statement rang true for numerous observers. It is one of the broadcasters where there exists grounded and generally reliable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Battle
But CNN, now four and a half decades old, finds itself in a precarious situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Layer: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis endures.
“Our current system is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different 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? Reform is very unlikely now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the latest merger game.
