This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words resonated to many. It remains one of the organizations where there exists fact-based and generally trustworthy reporting – especially during crises like the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
Yet CNN, now 45 years old, finds itself in a uncertain position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a business story with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension 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. You can read that as ownership that will shield him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder 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 installed the conservative Bari Weiss, noted 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 prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the bigger problem persists.
“Our current system is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator 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 support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent corporate chess match.
