On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While it is by no means a flawless news source, her words resonated for a lot of people. It is one of the broadcasters where you can find reality-based and mostly dependable reporting – especially during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
Yet the news network, now 45 years old, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of corporate ownership, rather than 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 governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard said.
A Further Layer: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
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 one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. 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 another sale. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution regarding CNN, the underlying crisis remains.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.
Is this likely 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 is not to say it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – 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 pieces in the most recent acquisition battle.
