Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate grounded and largely trustworthy reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
However the news network, now four and a half decades old, finds itself in a precarious position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard explained.
A Further Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive 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. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Turmoil
It is important to note, if Netflix prevails, 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 far from a guarantee of stability. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Way Ahead
Regardless of the resolution in this situation, the larger issue persists.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the newest merger game.
