This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While it is by no means a flawless news source, her words rang true for numerous observers. It is one of the outlets where one can locate reality-based and mostly reliable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a uncertain state as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of business acquisition, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
A Further Element: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal 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 protect him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome regarding CNN, the larger issue remains.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
