Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated to many. It is one of the outlets where you can find grounded and mostly reliable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Corporate Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Additional Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company more. For one thing, it is led 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That setup could set up CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu argued.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem remains.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in too few hands are within reach – they are vital for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the newest acquisition battle.
