This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement rang true for numerous observers. It is one of the organizations where there exists reality-based and mostly trustworthy reporting – notably during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. There is no finish line.
If you ask 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 bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Path Forward
Regardless of the resolution in this situation, the larger issue endures.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in very few hands are within reach – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent merger game.