On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement rang true for a lot of people. It is one of the outlets where you can find grounded and generally trustworthy reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
However the news network, now middle-aged, finds itself in a vulnerable situation as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the common good,” Pickard added.
The Additional Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
No matter the outcome in this situation, the larger issue endures.
“The present media landscape is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in too few hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be pawns in the newest corporate chess match.
