Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her message resonated to many. It stands as one of the broadcasters where there exists grounded and largely trustworthy reporting – particularly during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Battle
Yet CNN, now middle-aged, finds itself in a precarious situation as two huge media corporations battle over ownership of its parent company, 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 serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds 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.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That structure could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome in this situation, the larger issue endures.
“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the most recent corporate chess match.
