This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her statement rang true to many. It is one of the organizations where you can find reality-based and largely reliable reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.
A Precarious State Amid a Business Struggle
But the news network, now 45 years old, finds itself in a uncertain situation as two massive media corporations battle over 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, not as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard added.
The Complicating Element: Political Influence
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says 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.
There is a basis to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu argued.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – dating back to 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 Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.
