This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement seemed accurate to many. It remains one of the outlets where there exists fact-based and generally dependable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Battle
Yet CNN, now middle-aged, finds itself in a precarious position as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation 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 corporate drama with key players as the central actors, but there is scant discussion of the public interest,” Pickard said.
A Further Layer: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor 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.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of Continued Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much 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 contested by regulators,” Wu recently wrote.
The Fundamental Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“The present media landscape is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can fix it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in very few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the latest corporate chess match.
