On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her words seemed accurate for numerous observers. It remains one of the organizations where there exists grounded and mostly trustworthy reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Business Battle
Yet CNN, now 45 years old, finds itself in a uncertain state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, instead of as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
A Further Element: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor 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, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might 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. It never ends.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Bigger Issue and a Way Ahead
Whatever happens regarding CNN, the underlying crisis remains.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the newest merger game.
