On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her words resonated for numerous observers. It is one of the organizations where there exists grounded and largely reliable reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Battle
Yet the news network, now 45 years old, finds itself in a precarious situation as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a business story with key players as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Factor: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems 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 pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue remains.
“What we have now is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.
Measures that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the most recent corporate chess match.
