On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While the network is hardly a perfect news source, her words resonated for a lot of people. It remains one of the broadcasters where you can find reality-based and largely reliable reporting – notably during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, author 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? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
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, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the newest merger game.
