This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words seemed accurate to many. It is one of the broadcasters where there exists fact-based and largely trustworthy reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, author 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 – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company 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, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could set up CNN for another sale. The cycle continues.
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 prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Measures that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the most recent acquisition battle.
