Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a perfect news source, her message seemed accurate for a lot of people. It is one of the broadcasters where there exists fact-based and mostly trustworthy reporting – notably during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
But CNN, now 45 years old, finds itself in a precarious position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws 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 – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is very little discussion of the common good,” Pickard explained.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Further Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a safe harbor. That structure could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.
The Bigger Challenge and a Way Ahead
No matter the outcome in this situation, the underlying crisis persists.
“The present media landscape is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in very few hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the newest acquisition battle.
