This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though it is by no means a perfect news source, her statement resonated for a lot of people. It is one of the organizations where you can find grounded and mostly dependable reporting – particularly during crises like the one unfolding near a New Hampshire storage facility.
A Precarious Position During a Business Battle
But the news network, now four and a half decades old, finds itself in a precarious state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a major game of business acquisition, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard added.
A Further Element: The Former President
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive 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 shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the bigger problem endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are achievable – they are essential for a robust democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the latest acquisition battle.
