On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a perfect news source, her statement rang true to many. It remains one of the broadcasters where there exists fact-based and mostly reliable reporting – particularly during fast-moving events like the one developing close to a New Hampshire storage facility.
A Precarious Position During a High-Stakes Struggle
However the news network, now middle-aged, finds itself in a precarious state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off 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 structure could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by regulators,” Wu stated.
The Core Issue and a Way Ahead
Whatever happens with this particular battle, the larger issue remains.
“The present media landscape is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create 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 very unlikely now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the latest corporate chess match.
