Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate fact-based and generally reliable reporting – notably during crises like the one developing close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
Yet CNN, now 45 years old, finds itself in a precarious state as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Element: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution in this situation, the larger issue remains.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the concentration of media power in too few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the latest corporate chess match.
