This past Thursday night, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her words seemed accurate for a lot of people. It is one of the outlets where you can find fact-based and mostly dependable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.
A Precarious State During a Business Struggle
Yet CNN, now 45 years old, finds itself in a precarious position as two giant media empires vie 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 business acquisition, rather than as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Element: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that company 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are not only possible – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
