This past Thursday night, as rumors swirled regarding an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a flawless news source, her words resonated for a lot of people. It remains one of the organizations where you can find reality-based and generally reliable reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Battle
However the news network, now 45 years old, finds itself in a precarious state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has turned into a high-stakes game of corporate ownership, 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 governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.
He has grounds 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.
Paramount, 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 Future of More Turmoil
Notably, 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 hardly a guarantee of stability. That structure could position CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Fundamental Issue and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue endures.
“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the latest merger game.
