Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her statement rang true to many. It remains one of the organizations where one can locate grounded and mostly dependable reporting – notably during fast-moving events such as the one unfolding near a New Hampshire storage facility.
An Uncertain State Amid a Corporate Struggle
But CNN, now middle-aged, finds itself in a vulnerable situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.
“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem endures.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will not happen in the future.
Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN cannot be tools in the most recent corporate chess match.
