This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where there exists grounded and generally reliable reporting – notably during crises such as the one developing near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Tug-of-War
But CNN, now 45 years old, finds itself in a precarious position as two massive media corporations 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 business acquisition, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the latest acquisition battle.
