Late Thursday, while unconfirmed reports spread regarding a shooting 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.
Although CNN is certainly not a impeccable news source, her statement resonated to many. It remains one of the outlets where you can find fact-based and generally trustworthy reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
But CNN, now 45 years old, finds itself in a uncertain situation as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard explained.
A Further Layer: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor 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.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could position CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Issue and a Path Forward
No matter the outcome with this particular battle, the underlying crisis remains.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the most recent corporate chess match.
