Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate for a lot of people. It remains one of the broadcasters where there exists fact-based and generally trustworthy reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Precarious State During a Corporate Battle
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted 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? – fails to grasp a larger point.
“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the common good,” Pickard added.
The Complicating Factor: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by the government,” Wu stated.
The Fundamental Challenge and a Potential Solution
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle 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 is not to say it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest acquisition battle.
