Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated for numerous observers. It is one of the organizations where there exists grounded and largely reliable reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Tug-of-War
But CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws 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 which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard said.
The Additional Element: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome in this situation, the larger issue endures.
“What we have now is a very system hostile to democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be tools in the most recent merger game.
