This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement seemed accurate for a lot of people. It stands as one of the outlets where there exists fact-based and mostly trustworthy reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
Yet CNN, now four and a half decades old, finds itself in a precarious situation as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of corporate ownership, not as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that bidder 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution in this situation, the underlying crisis remains.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
