Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her words seemed accurate for numerous observers. It remains one of the outlets where there exists reality-based and mostly dependable reporting – particularly during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain situation as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Whatever happens in this situation, the larger issue endures.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the consolidation 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 like CNN cannot be pawns in the latest acquisition battle.
