On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement resonated for numerous observers. It is one of the broadcasters where one can locate fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Position Amid a Business Struggle
Yet CNN, now four and a half decades old, finds itself in a uncertain position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has turned into a major game of business acquisition, instead of as a question of what serves the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Donald Trump
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Instability
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 hardly a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Problem and a Path Forward
No matter the outcome in this situation, the larger issue remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in too few hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the latest corporate chess match.
