On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true for numerous observers. It is one of the outlets where you can find reality-based and generally dependable reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
However the news network, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a business story with key players as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Factor: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Uncertainty
Notably, 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 setup could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens in this situation, the underlying crisis endures.
“Our current system is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the newest corporate chess match.
