This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a perfect news source, her words rang true to many. It stands as one of the outlets where one can locate fact-based and generally trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Battle
However CNN, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised 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 highly improbable now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the most recent merger game.
