This past Thursday night, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement rang true for numerous observers. It is one of the outlets where you can find reality-based and generally trustworthy reporting – notably during crises like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
But CNN, now middle-aged, finds itself in a precarious position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with key players as the central actors, but there is very little discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that bidder 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, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. It never ends.
If you ask Timothy Wu, much 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 recently wrote.
The Bigger Issue and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem remains.
“Our current system is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pawns in the most recent acquisition battle.
