Late Thursday, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her message rang true for numerous observers. It stands as one of the outlets where you can find reality-based and mostly trustworthy reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Corporate Tug-of-War
Yet CNN, now 45 years old, finds itself in a uncertain position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Additional Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House 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 a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in too few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest merger game.
