This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate for numerous observers. It remains one of the outlets where one can locate reality-based and largely reliable reporting – notably during fast-moving events like the one developing near a New Hampshire storage facility.
A Vulnerable Position During a Business Tug-of-War
But CNN, now middle-aged, finds itself in a precarious state as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is very little discussion of the common good,” Pickard added.
The Additional Layer: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor 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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Challenge and a Path Forward
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a very structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
