Late Thursday, as rumors swirled concerning a shooting 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 flawless news source, her message rang true for a lot of people. It remains one of the organizations where there exists fact-based and generally trustworthy reporting – especially during crises like the one unfolding near a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a uncertain situation as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned 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 deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard said.
The Complicating Element: The Former President
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic 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 contested by regulators,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem persists.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the newest corporate chess match.
