Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her message seemed accurate for a lot of people. It is one of the organizations where you can find grounded and largely trustworthy reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Tug-of-War
But the news network, now 45 years old, finds itself in a uncertain state as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard said.
The Additional Element: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a secure position. That setup could position CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens in this situation, the underlying crisis persists.
“What we have now is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the newest merger game.
