Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate for numerous observers. It stands as one of the broadcasters where there exists fact-based and generally dependable reporting – especially during crises like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
But the news network, now middle-aged, finds itself in a vulnerable situation as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard added.
The Additional Element: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason 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 run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That setup could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis endures.
“Our current system is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the latest merger game.
