On Thursday evening, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her statement rang true for numerous observers. It stands as one of the outlets where there exists fact-based and generally trustworthy reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a High-Stakes Battle
However CNN, now four and a half decades old, finds itself in a precarious position as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for another sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue remains.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be pawns in the most recent acquisition battle.
