This past Thursday night, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her message resonated for numerous observers. It remains one of the organizations where there exists fact-based and largely trustworthy reporting – notably during breaking news situations such as the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the main characters, but there is hardly any discussion of the common good,” Pickard added.
The Complicating Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the most recent corporate chess match.
