On Thursday evening, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a flawless news source, her message resonated to many. It remains one of the outlets where there exists fact-based and mostly reliable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
However the news network, now middle-aged, finds itself in a precarious position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.
The Additional Factor: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at Trump'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. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer 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.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of Continued Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu stated.
The Core Problem and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis persists.
“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the most recent corporate chess match.
