This past Thursday night, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her message seemed accurate for a lot of people. It is one of the broadcasters where there exists fact-based and mostly trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
However the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
A Further Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “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 official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Challenge and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis remains.
“What we have now is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent corporate chess match.
