This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words rang true for a lot of people. It stands as one of the organizations where you can find fact-based and mostly trustworthy reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a precarious position as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Core Issue and a Way Ahead
Whatever happens in this situation, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address 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 doesn’t mean it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the latest merger game.
