Late Thursday, as rumors swirled about a shooting at Brown University, 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 impeccable news source, her message seemed accurate for a lot of people. It is one of the outlets where one can locate reality-based and generally trustworthy reporting – notably during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position During a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a major game of corporate ownership, not as a question of what helps the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
The Additional Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder 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.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Problem and a Path Forward
Whatever happens with this particular battle, the underlying crisis endures.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the most recent merger game.
