This past Thursday night, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message resonated for numerous observers. It remains one of the outlets where one can locate reality-based and mostly reliable reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Battle
But the news network, now middle-aged, finds itself in a precarious state as two massive media corporations 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 business acquisition, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu argued.
The Core Problem and a Potential Solution
Whatever happens regarding CNN, the bigger problem remains.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new 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 highly improbable now, but that should not imply it will never happen.
Initiatives that support independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.
