On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her statement rang true for a lot of people. It is one of the broadcasters where one can locate reality-based and generally reliable reporting – notably during crises such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Layer: Donald Trump
This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of More Uncertainty
Notably, if Netflix prevails, 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 hardly a guarantee of stability. That structure could position CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue remains.
“What we have now is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Measures that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be tools in the latest corporate chess match.
