This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words rang true for a lot of people. It remains one of the broadcasters where one can locate grounded and mostly reliable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Struggle
But CNN, now four and a half decades old, finds itself in a precarious position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in 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 led 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Core Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem endures.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the most recent corporate chess match.
