On Thursday evening, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement rang true for a lot of people. It is one of the broadcasters where there exists grounded and mostly trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a vulnerable position as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, author 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 is often framed as a financial tale with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Uncertainty
Significantly, if Netflix wins, 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 guarantee of stability. That structure could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can fix it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in very few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pawns in the latest merger game.
