Late Thursday, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It remains one of the organizations where one can locate grounded and mostly trustworthy reporting – particularly during crises like the one taking place near a New Hampshire storage facility.
A Vulnerable Position During a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable position as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a major game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a corporate drama with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Additional Factor: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of More 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 far from a secure position. That setup could set up CNN for a future sale. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Challenge and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent corporate chess match.
