This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her statement seemed accurate to many. It is one of the organizations where one can locate fact-based and generally reliable reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious State During a Corporate Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain position as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of business acquisition, instead of as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN must not be tools in the latest acquisition battle.