This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where one can locate fact-based and generally dependable reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
But the news network, now 45 years old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with key players as the main characters, but there is very little discussion of the common good,” Pickard added.
The Complicating Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Issue and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis remains.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in too few hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the most recent corporate chess match.
