This past Thursday night, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her words resonated to many. It stands as one of the organizations where one can locate grounded and largely trustworthy reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Precarious Situation Amid a Business Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two giant media corporations compete 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, instead of as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with key players as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“Our current system is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent acquisition battle.
