Late Thursday, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her words rang true for numerous observers. It remains one of the organizations where you can find grounded and largely dependable reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Struggle
However CNN, now middle-aged, finds itself in a precarious situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of business acquisition, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the chants 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 White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s far from a secure position. That arrangement could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Issue and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis persists.
“Our current system is a very system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the most recent corporate chess match.
