On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her message seemed accurate for numerous observers. It is one of the outlets where one can locate reality-based and largely trustworthy reporting – especially during crises such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
But CNN, now middle-aged, finds itself in a vulnerable position as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem remains.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the most recent acquisition battle.
