On Thursday evening, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a flawless news source, her words resonated to many. It is one of the outlets where you can find reality-based and largely reliable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a precarious position as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of business acquisition, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard explained.
A Further Layer: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis persists.
“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in too few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the most recent merger game.
