On Thursday evening, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement rang true for a lot of people. It remains one of the outlets where you can find fact-based and generally dependable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
Yet the news network, now four and a half decades old, finds itself in a precarious state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner 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.
An Outcome of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That arrangement 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 recently argued that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu stated.
The Bigger Challenge and a Potential Solution
No matter the outcome regarding CNN, the bigger problem endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
