This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement resonated for a lot of people. It stands as one of the outlets where there exists fact-based and largely dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Struggle
However CNN, now middle-aged, finds itself in a precarious position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with key players as the main characters, but there is hardly any discussion of the common good,” Pickard said.
A Further Layer: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Potential Solution
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent merger game.
