Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her words resonated for numerous observers. It is one of the broadcasters where there exists fact-based and largely trustworthy reporting – notably during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
But the news network, now middle-aged, finds itself in a precarious position as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major 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 roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard explained.
A Further Layer: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts 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 support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
