This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words rang true for numerous observers. It remains one of the organizations where one can locate fact-based and largely trustworthy reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Struggle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Element: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to like 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the larger issue remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the most recent acquisition battle.
