Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her words seemed accurate for numerous observers. It is one of the outlets where there exists reality-based and mostly trustworthy reporting – especially during fast-moving events like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
However the news network, now middle-aged, finds itself in a precarious position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Layer: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that bidder more. For one thing, it is controlled 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the latest acquisition battle.
