On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the organizations where one can locate grounded and mostly reliable reporting – particularly during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
However the news network, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a major game of corporate ownership, not as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Potential Solution
Regardless of the resolution in this situation, the larger issue endures.
“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized 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? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest corporate chess match.
