This past Thursday night, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her words rang true for a lot of people. It stands as one of the outlets where one can locate grounded and generally reliable reporting – especially during fast-moving events like the one unfolding close to a New Hampshire storage facility.
An Uncertain State During a Corporate Struggle
But CNN, now middle-aged, finds itself in a precarious position as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Factor: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could pave the way for 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 prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Issue and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem endures.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address 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 never happen.
Measures that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the latest corporate chess match.
