This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her message seemed accurate for numerous observers. It remains one of the outlets where there exists grounded and generally dependable reporting – notably during breaking news situations like the one developing near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a precarious position as two giant media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.
The Complicating Layer: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal 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 seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that company more. For one thing, it is controlled by David Ellison, son of the pro-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 lead editor of that storied news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a welcome development to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the latest acquisition battle.
