On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It remains one of the broadcasters where one can locate fact-based and generally reliable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain situation as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of business acquisition, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder more. For one thing, it is run 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of More Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Bigger Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“Our current system is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in too few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest merger game.
