Late Thursday, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words rang true for numerous observers. It is one of the broadcasters where one can locate reality-based and mostly reliable reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
Yet CNN, now middle-aged, finds itself in a precarious situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of business acquisition, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard explained.
A Further Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. 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 like that bidder 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.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Further Instability
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for a future sale. There is no finish line.
If you ask 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.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Fundamental Issue and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis endures.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest corporate chess match.
