This past Thursday night, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words resonated to many. It is one of the outlets where there exists reality-based and mostly trustworthy reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a High-Stakes Tug-of-War
Yet CNN, now 45 years old, finds itself in a precarious situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The debate 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 powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Factor: The Former President
This situation 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 cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, 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 More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Fundamental Problem and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem endures.
“Our current system is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
