Late Thursday, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used 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 words seemed accurate to many. It is one of the broadcasters where one can locate grounded and generally trustworthy reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of business acquisition, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the shouts 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 White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Potential Solution
Whatever happens in this situation, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the most recent acquisition battle.
