This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate to many. It stands as one of the outlets where one can locate fact-based and generally dependable reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Struggle
But the news network, now 45 years old, finds itself in a uncertain state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Complicating Element: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the larger issue endures.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest corporate chess match.
