On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her message resonated to many. It is one of the organizations where you can find reality-based and generally dependable reporting – especially during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a Corporate Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of business acquisition, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Potential Solution
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will never happen.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in very few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.
