Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It remains one of the outlets where one can locate fact-based and largely trustworthy reporting – especially during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a precarious state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension 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 insulate him from criticism and scrutiny. That is one reason 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 bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Issue and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the latest acquisition battle.
