This past Thursday night, while unconfirmed reports spread regarding a shooting 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 message seemed accurate for numerous observers. It is one of the broadcasters where one can locate grounded and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain State Amid a Corporate Struggle
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Element: The Former President
The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be bad for the country, and both should be challenged by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
No matter the outcome in this situation, the underlying crisis endures.
“The present media landscape is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are within reach – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the newest corporate chess match.
