This past Thursday night, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words resonated for a lot of people. It stands as one of the broadcasters where one can locate grounded and mostly trustworthy reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable situation as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
The Complicating Factor: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to like that company 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.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by regulators,” Wu stated.
The Core Challenge and a Path Forward
Whatever happens with this particular battle, the bigger problem endures.
“What we have now is a very 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 foster this overly commercial monster, and new 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 is not to say it will be impossible forever.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in too few hands are achievable – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the latest acquisition battle.
