On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement resonated for a lot of people. It stands as one of the outlets where you can find reality-based and generally trustworthy reporting – especially during crises like the one unfolding near a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet CNN, now middle-aged, finds itself in a uncertain position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a major game of business acquisition, 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 regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Additional Element: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of More Turmoil
It is important to note, 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 position CNN for another sale. It never ends.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Core Issue and a Path Forward
No matter the outcome in this situation, the larger issue endures.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be pawns in the latest acquisition battle.
