Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement resonated to many. It remains one of the outlets where you can find fact-based and largely trustworthy reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a Business Battle
Yet CNN, now four and a half decades old, finds itself in a vulnerable state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Issue and a Path Forward
Whatever happens in this situation, the underlying crisis persists.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
