This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her message rang true for a lot of people. It stands as one of the outlets where you can find reality-based and generally dependable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Additional Element: Donald Trump
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as 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.
There is a basis to like that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome regarding CNN, the bigger problem remains.
“Our current system is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest corporate chess match.
