Late Thursday, amid swirling speculation about the Brown University gunman, 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 message seemed accurate to many. It remains one of the organizations where there exists reality-based and generally trustworthy reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a uncertain state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate 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 is yet another example of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu argued.
The Fundamental Challenge and a Path Forward
Whatever happens with this particular battle, the bigger problem remains.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Will that happen 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 doesn’t mean it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the most recent acquisition battle.
