On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated to many. It remains one of the broadcasters where there exists reality-based and largely trustworthy reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
Yet CNN, now 45 years old, finds itself in a uncertain state as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like 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.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for a future 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 recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens in this situation, the larger issue remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest acquisition battle.
