Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It remains one of the organizations where one can locate reality-based and largely reliable reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard said.
The Additional Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Problem and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in too few hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
