Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although the network is hardly a perfect news source, her words rang true for numerous observers. It remains one of the outlets where there exists fact-based and mostly trustworthy reporting – especially during fast-moving events like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with key players as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for another sale. The cycle continues.
In the view of 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.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the larger issue remains.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix 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 should not imply it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are not only possible – they are necessary for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest corporate chess match.
