Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message seemed accurate for numerous observers. It stands as one of the outlets where one can locate grounded and largely dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.
A Precarious Position During a Corporate Battle
Yet the news network, now middle-aged, finds itself in a precarious state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Additional Element: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu argued.
The Core Issue and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in very few hands are achievable – they are necessary for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the most recent corporate chess match.
