This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her message resonated for numerous observers. It is one of the outlets where one can locate reality-based and mostly reliable reporting – notably during fast-moving events like the one developing near a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
However the news network, now four and a half decades old, finds itself in a precarious situation as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” said 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 – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard said.
The Additional Layer: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens regarding CNN, the underlying crisis persists.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the newest corporate chess match.
