This past Thursday night, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words rang true to many. It remains one of the outlets where one can locate fact-based and generally trustworthy reporting – especially during crises like the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
However the news network, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of business acquisition, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.
The Bigger Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in too few hands are within reach – they are essential for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be tools in the newest merger game.
