Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where there exists grounded and largely trustworthy reporting – particularly during crises like the one taking place near a New Hampshire storage facility.
A Precarious Situation During a Business Tug-of-War
However the news network, now 45 years old, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a major game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer 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, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is a distant prospect 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 too few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the latest corporate chess match.
