Late Thursday, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words rang true for numerous observers. It is one of the organizations where one can locate reality-based and largely trustworthy reporting – especially during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State During a Business Tug-of-War
But CNN, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard explained.
The Additional Factor: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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.
A Future of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could set up CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest acquisition battle.
