On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her words resonated to many. It is one of the outlets where one can locate grounded and mostly dependable reporting – especially during breaking news situations like the one developing near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
But the news network, now 45 years old, finds itself in a precarious situation as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Complicating Factor: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that bidder 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.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That setup could position CNN for a future sale. The cycle continues.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Problem and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be tools in the newest merger game.
