This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her words rang true for numerous observers. It is one of the broadcasters where one can locate fact-based and generally dependable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
Yet CNN, now 45 years old, finds itself in a vulnerable position as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Element: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That setup could set up CNN for another sale. It never ends.
According to 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 prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in too few hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest acquisition battle.
