Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a flawless news source, her statement seemed accurate to many. It stands as one of the broadcasters where you can find fact-based and mostly trustworthy reporting – especially during crises such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
But CNN, now four and a half decades old, finds itself in a uncertain state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of corporate ownership, not as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
A Further Layer: The Former President
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like 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.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Path Forward
Whatever happens with this particular battle, the larger issue remains.
“Our current system is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in too few hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN cannot be tools in the newest acquisition battle.
