Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for numerous observers. It stands as one of the outlets where you can find fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
But the news network, now four and a half decades old, finds itself in a precarious position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” said 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 – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard said.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation 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 shield him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder 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 lead editor of that venerable news network.
A Possibility of Further Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Core Problem and a Way Ahead
No matter the outcome in this situation, the underlying crisis remains.
“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent corporate chess match.
