On Thursday evening, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
While the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Tug-of-War
But the news network, now four and a half decades old, finds itself in a vulnerable situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
A Further 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 main “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor more. For one thing, it is run 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis endures.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable 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 very few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.
