Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true to many. It stands as one of the organizations where there exists fact-based and generally trustworthy reporting – especially during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a precarious state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires 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 aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Way Ahead
Whatever happens in this situation, the underlying crisis endures.
“The present media landscape is a profoundly anti-democratic system, but we must resist 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.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the latest acquisition battle.
