This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although the network is hardly a impeccable news source, her statement seemed accurate for numerous observers. It remains one of the outlets where one can locate reality-based and generally dependable reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
However the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.
The Additional Layer: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Remember the cries 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 press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu stated.
The Core Issue and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the most recent corporate chess match.
