Late Thursday, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true for numerous observers. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Battle
But the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims 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 support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis persists.
“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in too few hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest merger game.
