Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words seemed accurate for numerous observers. It is one of the broadcasters where there exists fact-based and generally trustworthy reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a precarious state as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with influential figures as the central actors, but there is scant discussion of the common good,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off 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 pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be tools in the most recent acquisition battle.
