Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a flawless news source, her statement rang true for numerous observers. It remains one of the broadcasters where there exists fact-based and generally trustworthy reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable state as two massive media corporations compete 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 business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Layer: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Issue and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Will that happen 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.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the most recent acquisition battle.
