Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message resonated for a lot of people. It remains one of the organizations where you can find reality-based and generally trustworthy reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State During a Business Struggle
But the news network, now 45 years old, finds itself in a uncertain situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges 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 negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Core Issue and a Potential Solution
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the latest corporate chess match.
