On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her message resonated for numerous observers. It remains one of the broadcasters where one can locate grounded and mostly dependable reporting – particularly during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
But CNN, now 45 years old, finds itself in a precarious position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard said.
The Complicating Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Issue and a Potential Solution
Regardless of the resolution in this situation, the bigger problem endures.
“What we have now is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest corporate chess match.
