This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated to many. It is one of the outlets where there exists reality-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Corporate Struggle
But the news network, now 45 years old, finds itself in a vulnerable situation as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
It is important to note, if Netflix wins, 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 not exactly a safe harbor. That structure could set up CNN for another sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution in this situation, the larger issue endures.
“The present media landscape is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent merger game.
