Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement resonated for a lot of people. It is one of the organizations where there exists fact-based and largely trustworthy reporting – notably during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However CNN, now four and a half decades old, finds itself in a precarious situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of policy decisions,” 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? – fails to grasp a broader point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
A Further Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the cries 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 White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a secure position. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.
The Core Challenge and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis persists.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to 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 fix it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest corporate chess match.
