This past Thursday night, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate fact-based and generally reliable reporting – notably during crises such as the one developing near a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
The Complicating Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal 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 larger issue endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the newest acquisition battle.
