Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a impeccable news source, her statement resonated for numerous observers. It is one of the organizations where one can locate grounded and mostly dependable reporting – particularly during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of business acquisition, not as a question of what benefits 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 professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: Donald Trump
This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension 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 insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor 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.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be contested by the government,” Wu argued.
The Fundamental Challenge and a Path Forward
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair 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, finance public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are essential for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the most recent acquisition battle.
