Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a flawless news source, her statement rang true to many. It stands as one of the broadcasters where one can locate fact-based and largely reliable reporting – especially during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious situation as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a business story with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pawns in the most recent acquisition battle.
