This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement rang true for numerous observers. It stands as one of the outlets where you can find fact-based and largely reliable reporting – especially during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Battle
However the news network, now 45 years old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what serves the news-consuming public.
“Here is one more case of the profound systemic issues with origins in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Layer: The Former President
This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of More Uncertainty
Significantly, if Netflix prevails, 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 far from a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Problem and a Way Ahead
Regardless of the resolution regarding CNN, the larger issue persists.
“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are within reach – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pawns in the latest acquisition battle.
