Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although it is by no means a flawless news source, her statement resonated for numerous observers. It is one of the organizations where one can locate reality-based and largely dependable reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Corporate Struggle
Yet CNN, now middle-aged, finds itself in a precarious state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
A Further Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that company 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, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Problem and a Path Forward
Whatever happens with this particular battle, the larger issue endures.
“What we have now is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pieces in the most recent merger game.
