On Thursday evening, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her words resonated for a lot of people. It is one of the broadcasters where there exists fact-based and generally dependable reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Position During a High-Stakes Struggle
However the news network, now 45 years old, finds itself in a precarious position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Layer: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of 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 led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu recently wrote.
The Fundamental Issue and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis endures.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent merger game.
