Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It stands as one of the organizations where one can locate fact-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Struggle
But the news network, now middle-aged, finds itself in a precarious position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that 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 like 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Core Challenge and a Potential Solution
No matter the outcome with this particular battle, the larger issue remains.
“Our current system is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.
