This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used 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 resonated for numerous observers. It stands as one of the outlets where one can locate fact-based and generally reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain situation as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a major game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will shield 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.
Trump has reason to favor that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue remains.
“The present media landscape is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the most recent corporate chess match.
