Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate for a lot of people. It remains one of the organizations where one can locate reality-based and mostly dependable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious Situation During a Corporate Battle
But CNN, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.
A Further Element: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Path Forward
No matter the outcome with this particular battle, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the newest acquisition battle.
