Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her words resonated for numerous observers. It stands as one of the broadcasters where there exists fact-based and largely reliable reporting – notably during crises like the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that bidder more. For one thing, it is controlled 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in very few hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the newest merger game.
