Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her message rang true for a lot of people. It stands as one of the outlets where there exists fact-based and generally trustworthy reporting – especially during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Tug-of-War
Yet the news network, now 45 years old, finds itself in a uncertain situation as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the main characters, but there is very little discussion of the public interest,” Pickard added.
The Additional Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Core Challenge and a Potential Solution
Whatever happens with this particular battle, the bigger problem remains.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in very few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest merger game.
