Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words seemed accurate for a lot of people. It stands as one of the organizations where one can locate reality-based and generally trustworthy reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a vulnerable situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” stated 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 – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Complicating Factor: The Former President
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires 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 aggressive takeover attempt.
He has grounds to prefer that suitor 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, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Uncertainty
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Core Problem and a Path Forward
No matter the outcome regarding CNN, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.
Policies that support independent news organizations, bolster 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 robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the latest corporate chess match.
