Late Thursday, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words resonated for a lot of people. It remains one of the broadcasters where there exists grounded and generally reliable reporting – especially during crises like the one developing near a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a precarious state as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Path Forward
Whatever happens regarding CNN, the underlying crisis remains.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the newest acquisition battle.
