Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her statement rang true for a lot of people. It is one of the organizations where one can locate reality-based and largely trustworthy reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain position as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of policy decisions,” noted Victor Pickard, writer 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.
“The narrative is crafted as a business story with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump 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 lead editor of that historic news network.
A Possibility of Further Uncertainty
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 guarantee of stability. That structure could position CNN for another sale. The cycle continues.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
Whatever happens with this particular battle, the larger issue endures.
“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.
