On Thursday evening, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate reality-based and generally trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Battle
However the news network, now middle-aged, finds itself in a precarious position as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the latest merger game.
