On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words rang true for a lot of people. It remains one of the organizations where you can find reality-based and generally dependable reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a uncertain position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts 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 appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Challenge and a Potential Solution
Regardless of the resolution in this situation, the larger issue persists.
“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in very few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
