On Thursday evening, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While the network is hardly a flawless news source, her message seemed accurate for numerous observers. It is one of the organizations where you can find reality-based and largely trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain State During a Business Battle
Yet CNN, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard said.
A Further Layer: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is led 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could set up CNN for another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent corporate chess match.
