Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words resonated to many. It stands as one of the outlets where one can locate fact-based and generally dependable reporting – notably during crises such as the one developing close to a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Struggle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with key players as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Complicating Factor: Political Influence
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
Whatever happens with this particular battle, the bigger problem endures.
“What we have now is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the latest acquisition battle.
