This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement seemed accurate for a lot of people. It remains one of the organizations where one can locate fact-based and largely trustworthy reporting – notably during fast-moving events like the one developing near a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
However the news network, now 45 years old, finds itself in a uncertain state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the public interest,” Pickard said.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Turmoil
Significantly, 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 far from a guarantee of stability. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
No matter the outcome with this particular battle, the underlying crisis remains.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the latest acquisition battle.
