Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words rang true for a lot of people. It stands as one of the broadcasters where there exists grounded and generally dependable reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Struggle
However CNN, now 45 years old, finds itself in a precarious position as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Complicating Factor: The Former President
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That structure could set up CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Problem and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis endures.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of 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 tools in the latest acquisition battle.
