On Thursday evening, amid swirling speculation concerning 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.
Even though it is by no means a perfect news source, her statement resonated for numerous observers. It remains one of the broadcasters where you can find fact-based and generally dependable reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
However the news network, now four and a half decades old, finds itself in a uncertain situation as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
A Further Element: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder more. For one thing, it is led 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.
The Core Challenge and a Potential Solution
Whatever happens in this situation, the larger issue remains.
“What we have now is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the latest corporate chess match.
