On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement seemed accurate for a lot of people. It is one of the outlets where one can locate reality-based and generally dependable reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Struggle
However CNN, now four and a half decades old, finds itself in a vulnerable situation as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard said.
A Further Layer: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, 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 Possibility of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the latest corporate chess match.
