Late Thursday, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated for a lot of people. It stands as one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious Position Amid a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a precarious situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.
Recall 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 official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is controlled 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Potential Solution
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in too few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the most recent merger game.
