This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her words seemed accurate for numerous observers. It is one of the outlets where there exists grounded and generally trustworthy reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Tug-of-War
Yet CNN, now middle-aged, finds itself in a uncertain state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-risk 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 roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a business story with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
A Further Factor: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor 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 placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will not happen in the future.
Policies that support independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the most recent acquisition battle.
