On Thursday evening, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While the network is hardly a flawless news source, her statement seemed accurate to many. It stands as one of the outlets where one can locate grounded and generally reliable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a precarious situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a major game of business acquisition, rather than as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Bigger Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis endures.
“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the latest acquisition battle.
