This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her words resonated for numerous observers. It stands as one of the organizations where there exists fact-based and largely dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a precarious state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of business acquisition, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's 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 protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the newest corporate chess match.
