On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
While it is by no means a perfect news source, her statement resonated for numerous observers. It stands as one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious Position Amid a Corporate Struggle
But the news network, now 45 years old, finds itself in a uncertain position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.
A Further Layer: The Former President
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable 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 hardly a secure position. That setup could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Core Problem and a Path Forward
Regardless of the resolution in this situation, the larger issue endures.
“Our current system is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in too few hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
