On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her words seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate grounded and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a major game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about the future owner of 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 scant discussion of the common good,” Pickard added.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens in this situation, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pieces in the newest merger game.
