On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her message resonated for a lot of people. It is one of the organizations where there exists grounded and generally dependable reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
A Precarious Position During a Corporate Struggle
However the news network, now four and a half decades old, finds itself in a uncertain situation as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the fundamental flaws with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That setup could set up CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised 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? Reform is a distant prospect now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the latest corporate chess match.
