This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message seemed accurate to many. It remains one of the broadcasters where one can locate grounded and generally dependable reporting – especially during crises like the one unfolding close to a New Hampshire storage facility.
An Uncertain State During a Business Tug-of-War
But the news network, now four and a half decades old, finds itself in a uncertain state as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.
A Further Element: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor 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, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the bigger problem endures.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in too few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest corporate chess match.
