On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her words rang true for numerous observers. It remains one of the outlets where you can find fact-based and largely dependable reporting – particularly during crises such as the one taking place near a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
Yet the news network, now middle-aged, finds itself in a uncertain position as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of corporate ownership, not as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for a future sale. There is no finish line.
In the view of 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 competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
No matter the outcome regarding CNN, the larger issue endures.
“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the latest corporate chess match.
