On Thursday evening, amid swirling speculation about an incident at Brown University, CNN’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 impeccable news source, her message seemed accurate for a lot of people. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Layer: The Former President
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
