On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words resonated for a lot of people. It remains one of the outlets where one can locate reality-based and largely reliable reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious Position During a High-Stakes Battle
But CNN, now middle-aged, finds itself in a vulnerable position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.
A Further Element: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that suitor more. For one thing, it is run 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Way Ahead
No matter the outcome with this particular battle, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from 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 refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest merger game.
