Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement seemed accurate to many. It remains one of the organizations where you can find grounded and generally reliable reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a uncertain situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
The Additional Factor: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the newest acquisition battle.
