Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While it is by no means a flawless news source, her words seemed accurate for numerous observers. It is one of the organizations where one can locate grounded and generally trustworthy reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
But CNN, now four and a half decades old, finds itself in a vulnerable state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of corporate ownership, not as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, 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.
An Outcome of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Challenge and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“What we have now is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.
Measures that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the latest merger game.
