On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people 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 broadcasters where you can find reality-based and mostly reliable reporting – especially during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of business acquisition, instead of 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 regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could set up CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in very few hands are achievable – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the most recent merger game.
