This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate grounded and generally dependable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
But the news network, now middle-aged, finds itself in a uncertain situation as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor 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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for a future sale. It never ends.
In the view of Timothy Wu, a great deal 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 challenged by regulators,” Wu stated.
The Bigger Challenge and a Path Forward
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will not happen in the future.
Policies that support 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 necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent corporate chess match.
