Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true to many. It stands as one of the outlets where there exists fact-based and mostly dependable reporting – particularly during crises such as the one developing near a New Hampshire storage facility.
A Vulnerable Position During a Corporate Struggle
Yet CNN, now middle-aged, finds itself in a precarious position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
A Further Element: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix wins, 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 secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Way Ahead
Whatever happens with this particular battle, the underlying crisis endures.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the most recent acquisition battle.
