Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words resonated for numerous observers. It remains one of the organizations where there exists grounded and generally trustworthy reporting – particularly during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Struggle
However CNN, now middle-aged, finds itself in a uncertain situation as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into 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 governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are achievable – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the newest merger game.
