This past Thursday night, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement seemed accurate to many. It is one of the broadcasters where you can find reality-based and mostly dependable reporting – especially during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That setup could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Problem and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – 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 Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
