This past Thursday night, while unconfirmed reports spread concerning 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 words seemed accurate to many. It remains one of the broadcasters where you can find fact-based and mostly dependable reporting – notably during breaking news situations such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a Business Struggle
But CNN, now middle-aged, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a major game of business acquisition, instead of as a question of what serves 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 media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is led 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
It is important to note, if Netflix is successful, 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 far from a secure position. That structure could position CNN for a future sale. The cycle continues.
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 anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest acquisition battle.
