Late Thursday, 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 impeccable news source, her statement rang true for numerous observers. It remains one of the organizations where there exists fact-based and generally reliable reporting – notably during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Struggle
However the news network, now four and a half decades old, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory 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. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor 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.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Turmoil
It is important to note, if Netflix prevails, 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 far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.
The Bigger Issue and a Path Forward
Whatever happens with this particular battle, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix 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 should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the newest acquisition battle.
