Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It remains one of the outlets where one can locate grounded and largely trustworthy reporting – notably during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a precarious situation as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the common good,” Pickard said.
A Further Element: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could 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.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Path Forward
Regardless of the resolution in this situation, the bigger problem endures.
“What we have now is a highly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in too few hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the newest merger game.
