This past Thursday night, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her words seemed accurate for numerous observers. It stands as one of the organizations where you can find reality-based and mostly reliable reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Precarious Position During a Business Tug-of-War
Yet CNN, now 45 years old, finds itself in a uncertain state as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny 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 fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with key players as the central actors, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary withdrawal 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. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out 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 pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Issue and a Path Forward
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm 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, bolster local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest merger game.
