On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Although the network is hardly a flawless news source, her statement resonated for numerous observers. It stands as one of the organizations where one can locate grounded and largely trustworthy reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Battle
But CNN, now four and a half decades old, finds itself in a uncertain position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp 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 public interest,” Pickard explained.
A Further Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says 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 support Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the most recent corporate chess match.
