On Thursday evening, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message seemed accurate for a lot of people. It is one of the broadcasters where one can locate grounded and largely trustworthy reporting – especially during breaking news situations like the one taking place near a New Hampshire storage facility.
A Precarious State During a High-Stakes Battle
However CNN, now 45 years old, finds itself in a vulnerable state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Factor: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in very few hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.
