This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words rang true for numerous observers. It remains one of the outlets where one can locate reality-based and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position During a Business Battle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is hardly any discussion of the common good,” Pickard added.
A Further Element: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the latest acquisition battle.
