Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While the network is hardly a impeccable news source, her message rang true for a lot of people. It remains one of the outlets where there exists fact-based and largely dependable reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny 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 profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a business story with key players as the main characters, but there is very little discussion of the common good,” Pickard said.
A Further Element: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation 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 shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that company 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Issue and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster 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 doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in very few hands are not only possible – 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 latest corporate chess match.
