Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, 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 CNN is certainly not a impeccable news source, her message rang true for numerous observers. It stands as one of the organizations where one can locate reality-based and generally reliable reporting – notably during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Battle
Yet the news network, now middle-aged, finds itself in a precarious situation as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.
Policies that support independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be pawns in the latest acquisition battle.
