Late Thursday, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words resonated for numerous observers. It remains one of the organizations where one can locate fact-based and mostly reliable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But CNN, now 45 years old, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the common good,” Pickard said.
A Further Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House 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 part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
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, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the most recent corporate chess match.
