Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her words resonated to many. It stands as one of the broadcasters where you can find reality-based and largely reliable reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Struggle
However the news network, now 45 years old, finds itself in a vulnerable position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a business story with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard added.
A Further Factor: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at the president’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 the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution regarding CNN, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the newest acquisition battle.
