Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her words resonated for a lot of people. It is one of the organizations where you can find reality-based and generally reliable reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Corporate Tug-of-War
But the news network, now 45 years old, finds itself in a precarious situation as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims 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 support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
