On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a impeccable news source, her message seemed accurate for a lot of people. It is one of the broadcasters where one can locate reality-based and generally trustworthy reporting – particularly during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
But CNN, 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 future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard added.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that suitor more. For one thing, it is run 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the most recent merger game.
