Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While it is by no means a flawless news source, her message resonated for numerous observers. It remains one of the outlets where there exists reality-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable position as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard added.
The Complicating Factor: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember 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 says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem persists.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest corporate chess match.
