This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It remains one of the outlets where there exists grounded and generally dependable reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Struggle
However the news network, now four and a half decades old, finds itself in a vulnerable state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Factor: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation 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 shield him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Turmoil
It is important to note, if Netflix wins, 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 setup could position CNN for yet another acquisition. The cycle continues.
In the view of 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 block both deals.
“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Issue and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
