Late Thursday, as rumors swirled concerning 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.
While it is by no means a flawless news source, her message rang true for a lot of people. It remains one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain Position Amid a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain position as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of corporate ownership, not as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” said 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 – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Complicating Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds 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.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest acquisition battle.
