This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate reality-based and generally dependable reporting – particularly during crises like the one taking place near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
However the news network, now four and a half decades old, finds itself in a precarious situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, not as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
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 is often framed as a business story with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
A Further Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal 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 insulate him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is run 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 appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome regarding CNN, the underlying crisis endures.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the latest acquisition battle.
