Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message resonated for numerous observers. It is one of the organizations where you can find fact-based and mostly dependable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Situation Amid a Business Battle
However the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a business story with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: Political Influence
This situation is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes 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 protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Problem and a Way Ahead
No matter the outcome in this situation, the larger issue remains.
“What we have now is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
