This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true to many. It remains one of the organizations where there exists grounded and largely reliable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
Yet CNN, now middle-aged, finds itself in a precarious state as two giant media corporations compete for ownership of its parent company, 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 serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for another sale. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Problem and a Potential Solution
Whatever happens regarding CNN, the bigger problem remains.
“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the consolidation of media power in very few hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the latest merger game.
