This past Thursday night, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true to many. It is one of the organizations where one can locate reality-based and mostly reliable reporting – particularly during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a vulnerable position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard said.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the bigger problem persists.
“Our current system is a very anti-democratic system, but we must resist learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the latest corporate chess match.
