This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her message rang true to many. It stands as one of the outlets where one can locate reality-based and mostly trustworthy reporting – especially during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
Yet the news network, now 45 years old, finds itself in a uncertain state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of corporate ownership, not as a question of what serves the news-consuming 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 debate about who will own Warner Bros Discovery – is it going to 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 scant discussion of the societal benefit,” Pickard added.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Core Issue and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in very few hands are within reach – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the latest acquisition battle.
