This past Thursday night, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
While CNN is certainly not a flawless news source, her statement resonated for numerous observers. It remains one of the organizations where there exists reality-based and largely dependable reporting – particularly during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Problem and a Way Ahead
Whatever happens in this situation, the bigger problem remains.
“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the most recent acquisition battle.
