This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her words resonated for numerous observers. It is one of the organizations where there exists grounded and largely reliable reporting – notably during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
However the news network, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of business acquisition, not as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in too few hands are achievable – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent merger game.
