On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words seemed accurate to many. It stands as one of the organizations where one can locate grounded and largely reliable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
However the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates vie for 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, not as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is very little discussion of the common good,” Pickard explained.
The Complicating Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem persists.
“The present media landscape is a very system hostile to democracy, but we must resist learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be pieces in the latest corporate chess match.
