This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her message seemed accurate to many. It stands as one of the organizations where there exists grounded and mostly dependable reporting – especially during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a vulnerable situation as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the common good,” Pickard explained.
The Additional Factor: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Problem and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis remains.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the newest acquisition battle.
