This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her statement rang true for a lot of people. It is one of the organizations where one can locate reality-based and mostly dependable reporting – especially during crises such as the one developing near a New Hampshire storage facility.
A Precarious Position During a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a vulnerable position as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of policy decisions,” 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 gets presented as a corporate drama with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that bidder more. For one thing, it is run 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Path Forward
No matter the outcome regarding CNN, the larger issue remains.
“Our current system is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest acquisition battle.
