Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It is one of the outlets where there exists grounded and mostly dependable reporting – particularly during crises such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious State During a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a uncertain state as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a major game of corporate ownership, not as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard said.
The Additional Element: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis 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.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Further Instability
It is important to note, if Netflix prevails, 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 setup could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Core Issue and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“The present media landscape is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest merger game.
