This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate grounded and generally trustworthy reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State During a Business Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own 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 central actors, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: The Former President
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is led by David Ellison, son of the pro-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 top editor of that venerable news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That structure could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be tools in the latest acquisition battle.
