On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her message rang true to many. It remains one of the broadcasters where you can find fact-based and mostly reliable reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Position During a Business Battle
But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem remains.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund 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, bigger isn’t better. And news organizations including CNN cannot be pieces in the newest corporate chess match.
