Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message seemed accurate to many. It stands as one of the organizations where one can locate reality-based and largely trustworthy reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that company more. For one thing, it is run 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust 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 Bigger Challenge and a Path Forward
Regardless of the resolution in this situation, the bigger problem endures.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest corporate chess match.
