Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement rang true to many. It remains one of the broadcasters where you can find fact-based and largely trustworthy reporting – particularly during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Battle
Yet the news network, now 45 years old, finds itself in a uncertain situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of business acquisition, rather than as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Element: Political Influence
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the latest corporate chess match.
