On Thursday evening, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words seemed accurate to many. It stands as one of the broadcasters where you can find reality-based and generally reliable reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
But the news network, now 45 years old, finds itself in a vulnerable state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” 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 – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-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 lead editor of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Issue and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis persists.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the latest acquisition battle.
