Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated for a lot of people. It stands as one of the organizations where one can locate reality-based and mostly trustworthy reporting – especially during crises such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Tug-of-War
However CNN, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a corporate drama with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Additional Factor: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of Further Uncertainty
Notably, if Netflix wins, 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 not exactly a safe harbor. That arrangement could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent acquisition battle.
