On Thursday evening, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated for a lot of people. It is one of the broadcasters where there exists grounded and mostly trustworthy reporting – especially during crises such as the one developing near a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Struggle
But CNN, now middle-aged, finds itself in a vulnerable situation as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard said.
The Complicating Layer: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Issue and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the newest acquisition battle.
