Late Thursday, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a flawless news source, her message rang true for numerous observers. It stands as one of the outlets where one can locate grounded and largely trustworthy reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Struggle
But CNN, now four and a half decades old, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of corporate ownership, not as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the underlying crisis endures.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest acquisition battle.
