Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement seemed accurate to many. It stands as one of the broadcasters where you can find reality-based and generally trustworthy reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Battle
Yet the news network, now four and a half decades old, finds itself in a precarious state as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the news-consuming 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 Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary 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 protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, 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 bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Path Forward
No matter the outcome with this particular battle, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the newest acquisition battle.
