This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her words resonated for numerous observers. It remains one of the outlets where there exists fact-based and generally trustworthy reporting – especially during crises such as the one developing near a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable situation as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Challenge and a Path Forward
No matter the outcome regarding CNN, the larger issue endures.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.
Measures that support independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the newest corporate chess match.
