This past Thursday night, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her message resonated to many. It remains one of the outlets where you can find fact-based and largely dependable reporting – particularly during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with key players as the main characters, but there is scant discussion of the common good,” Pickard explained.
A Further Element: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Fundamental Issue and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem persists.
“Our current system is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be tools in the newest corporate chess match.
