This past Thursday night, 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 it is by no means a perfect news source, her words resonated for a lot of people. It remains one of the broadcasters where one can locate reality-based and largely reliable reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Struggle
Yet the news network, now 45 years old, finds itself in a vulnerable position as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder 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, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Uncertainty
It is important to note, if Netflix prevails, 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 not exactly a secure position. That arrangement could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome in this situation, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the latest merger game.
