Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true to many. It remains one of the organizations where you can find grounded and largely reliable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
However CNN, now 45 years old, finds itself in a vulnerable position as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for a future sale. There is no finish line.
If you ask 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 harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Potential Solution
No matter the outcome in this situation, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest acquisition battle.
