On Thursday evening, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It stands as one of the outlets where there exists reality-based and largely reliable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Battle
Yet CNN, now 45 years old, finds itself in a precarious state as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason 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.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the latest corporate chess match.
