This past Thursday night, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her words seemed accurate to many. It stands as one of the broadcasters where you can find reality-based and generally reliable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
A Precarious Position During a High-Stakes Tug-of-War
Yet CNN, now four and a half decades old, finds itself in a vulnerable situation as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to 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 scant discussion of the common good,” Pickard explained.
The Complicating Layer: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says 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 favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor more. For one thing, it is run 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the bigger problem remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the newest corporate chess match.
