Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement resonated for a lot of people. It is one of the broadcasters where there exists grounded and largely dependable reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
A Vulnerable State During a Business Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
A Further Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump 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 top editor of that venerable news network.
A Future of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Challenge and a Path Forward
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from 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 Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in too few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the newest corporate chess match.
