On Thursday evening, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her message resonated to many. It is one of the outlets where there exists reality-based and generally reliable reporting – particularly during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard added.
The Complicating Factor: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to like 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.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for another sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu stated.
The Core Challenge and a Path Forward
No matter the outcome regarding CNN, the bigger problem endures.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be tools in the newest corporate chess match.
