This past Thursday night, 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 channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated for a lot of people. It is one of the organizations where there exists reality-based and mostly dependable reporting – especially during breaking news situations such as the one taking place close to a New Hampshire storage facility.
An Uncertain State During a Corporate Battle
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Factor: Political Influence
This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for a future sale. 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 recently argued that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Core Challenge and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis endures.
“Our current system is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in a handful of hands are not only possible – they are vital for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pawns in the newest corporate chess match.
