This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her message seemed accurate for a lot of people. It is one of the outlets where you can find fact-based and largely dependable reporting – particularly during breaking news situations like the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Corporate Battle
But the news network, now four and a half decades old, finds itself in a precarious situation as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a secure position. That setup could set up CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently 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 stated.
The Core Issue and a Potential Solution
Regardless of the resolution with this particular battle, the larger issue endures.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent acquisition battle.
