On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her message rang true to many. It is one of the organizations where there exists grounded and largely reliable reporting – especially during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a precarious state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Element: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could pave the way for CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic 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 recently wrote.
The Core Problem and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a highly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the latest corporate chess match.
