This past Thursday night, while unconfirmed reports spread about an incident 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.
Even though it is by no means a flawless news source, her message rang true to many. It is one of the outlets where one can locate fact-based and largely reliable reporting – especially during crises like the one unfolding close to a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with influential figures as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
The Complicating Layer: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem remains.
“Our current system is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in too few hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the most recent merger game.
