This past Thursday night, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While the network is hardly a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where you can find fact-based and largely dependable reporting – notably during crises like the one taking place close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Battle
But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard added.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Challenge and a Way Ahead
No matter the outcome regarding CNN, the larger issue persists.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are within reach – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the latest acquisition battle.
