On Thursday evening, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for a lot of people. It stands as one of the broadcasters where you can find reality-based and largely dependable reporting – particularly during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation During a Corporate Struggle
But the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with key players as the central actors, but there is very little discussion of the common good,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Instability
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 not exactly a secure position. That setup could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Challenge and a Potential Solution
Whatever happens in this situation, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are within reach – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the most recent corporate chess match.
