On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her message resonated for numerous observers. It remains one of the organizations where there exists grounded and largely dependable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of corporate ownership, not 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 regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard added.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
