On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her message resonated for numerous observers. It stands as one of the broadcasters where one can locate fact-based and mostly dependable reporting – especially during crises like the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a precarious position as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, 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 many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
The Additional Element: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor more. For one thing, it is controlled 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 placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Challenge and a Path Forward
No matter the outcome regarding CNN, the underlying crisis endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the latest corporate chess match.
