Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate reality-based and mostly dependable reporting – notably during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a precarious state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of business acquisition, rather than as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to 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 White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump 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 lead editor of that storied news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu stated.
The Fundamental Issue and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis endures.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the newest merger game.
