This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a perfect news source, her statement rang true to many. It stands as one of the organizations where there exists fact-based and generally reliable reporting – especially during crises like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Battle
However the news network, now four and a half decades old, finds itself in a precarious state as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, not as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted 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 aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is controlled 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Turmoil
Notably, 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 setup could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be pawns in the latest corporate chess match.
