On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement seemed accurate to many. It is one of the organizations where you can find fact-based and largely dependable reporting – particularly during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a Corporate Battle
However CNN, now 45 years old, finds itself in a precarious state as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard explained.
The Complicating Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Potential Solution
Whatever happens with this particular battle, the bigger problem remains.
“What we have now is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial 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? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the newest corporate chess match.
