On Thursday evening, while unconfirmed reports spread 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.
Although CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the organizations where you can find fact-based and generally trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
Yet the news network, now four and a half decades old, finds itself in a precarious position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a major game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is led 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 installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s far from a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue persists.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in too few hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent corporate chess match.
