Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While it is by no means a flawless news source, her statement resonated for numerous observers. It remains one of the outlets where you can find grounded and generally trustworthy reporting – particularly during fast-moving events like the one taking place near a New Hampshire storage facility.
An Uncertain Position During a High-Stakes Struggle
But the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard explained.
The Complicating Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
An Outcome of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Bigger Challenge and a Path Forward
Whatever happens with this particular battle, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
