This past Thursday night, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words rang true for a lot of people. It remains one of the organizations where one can locate reality-based and mostly dependable reporting – especially during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard said.
The Complicating Element: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome with this particular battle, the larger issue remains.
“What we have now is a very system hostile to democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the latest acquisition battle.
