On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement seemed accurate to many. It stands as one of the broadcasters where you can find grounded and mostly trustworthy reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
However the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a corporate drama with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Element: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Further Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s far from a safe harbor. That structure could set up CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens with this particular battle, the larger issue remains.
“What we have now is a very system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest acquisition battle.
