This past Thursday night, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her words resonated for a lot of people. It stands as one of the outlets where there exists grounded and largely trustworthy reporting – particularly during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Battle
But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Element: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal 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. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to like that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Core Challenge and a Way Ahead
Regardless of the resolution in this situation, the larger issue persists.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised 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? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are achievable – they are vital for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be tools in the newest corporate chess match.
