On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement rang true for numerous observers. It remains one of the broadcasters where you can find fact-based and largely trustworthy reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard added.
A Further Element: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is controlled 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s not exactly 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 a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
No matter the outcome regarding CNN, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in very few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the latest corporate chess match.
