Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
While the network is hardly a flawless news source, her message seemed accurate for numerous observers. It is one of the outlets where you can find fact-based and mostly trustworthy reporting – especially during crises such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Business Battle
But the news network, now 45 years old, finds itself in a uncertain situation as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard added.
The Additional Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs 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 favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Instability
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a secure position. That setup could set up CNN for yet another acquisition. 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 block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu stated.
The Bigger Challenge and a Potential Solution
Regardless of the resolution in this situation, the larger issue endures.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
