Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for numerous observers. It stands as one of the organizations where you can find grounded and mostly dependable reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
Yet the news network, now middle-aged, finds itself in a uncertain position as two massive media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
The Complicating Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens in this situation, the bigger problem remains.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that is not to say it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in too few hands are within reach – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the most recent acquisition battle.
