On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words seemed accurate for numerous observers. It remains one of the outlets where there exists reality-based and generally trustworthy reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation Amid a Corporate Struggle
However the news network, now middle-aged, finds itself in a uncertain position as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future 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 is yet another example of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Challenge and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in too few hands are achievable – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the latest acquisition battle.
