Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a impeccable news source, her words resonated to many. It stands as one of the broadcasters where there exists reality-based and mostly reliable reporting – especially during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
However the news network, now 45 years old, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. 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 bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued 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 stated.
The Fundamental Issue and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis persists.
“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in very few hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the latest corporate chess match.
