On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While the network is hardly a flawless news source, her words rang true for numerous observers. It remains one of the broadcasters where there exists reality-based and mostly trustworthy reporting – particularly during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Tug-of-War
However CNN, now four and a half decades old, finds itself in a uncertain situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of corporate ownership, not as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Element: The Former President
The CNN scenario is further muddied 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 revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Core Challenge and a Potential Solution
Regardless of the resolution in this situation, the bigger problem endures.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.
