Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her message rang true for a lot of people. It remains one of the organizations where you can find fact-based and mostly dependable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a High-Stakes Tug-of-War
Yet CNN, now middle-aged, finds itself in a precarious situation as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Layer: Donald Trump
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Issue and a Path Forward
No matter the outcome in this situation, the larger issue persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest acquisition battle.
