On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her words resonated to many. It stands as one of the organizations where there exists reality-based and largely trustworthy reporting – notably during breaking news situations like the one taking place near a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
However the news network, now four and a half decades old, finds itself in a vulnerable position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, not 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,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.
A Further Factor: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that bidder more. For one thing, it is controlled 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, 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 far from a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens in this situation, the larger issue persists.
“The present media landscape is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.
