This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for a lot of people. It is one of the organizations where one can locate reality-based and mostly trustworthy reporting – notably during fast-moving events like the one developing near a New Hampshire storage facility.
An Uncertain State Amid a Corporate Battle
However the news network, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Additional Element: The Former President
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to come down on the side of 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 pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be carved out 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 position CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
Whatever happens regarding CNN, the bigger problem endures.
“Our current system is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the newest corporate chess match.
