On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It is one of the organizations where one can locate fact-based and largely reliable reporting – notably during breaking news situations such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
However CNN, now 45 years old, finds itself in a uncertain state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
A Further Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he seems 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 Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue persists.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest corporate chess match.
