This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a perfect news source, her statement resonated for a lot of people. It is one of the outlets where you can find reality-based and mostly trustworthy reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
But CNN, now four and a half decades old, finds itself in a uncertain state as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Challenge and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be tools in the newest corporate chess match.
