Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message resonated for numerous observers. It remains one of the outlets where you can find fact-based and mostly trustworthy reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
However CNN, now middle-aged, finds itself in a vulnerable state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. 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. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu stated.
The Core Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are within reach – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the most recent corporate chess match.
